Tata Steel Limited announced that the Honorable Bombay High Court has canceled a notice issued by the assessment officer regarding the revaluation of taxable income for the assessment year 2019-20. The decision came during the hearing held on August 12, 2025, and the company received its order on August 16, 2025.
The Honorable Bombay High Court quashed the notice and all subsequent proceedings or orders that resulted in it. The notice issued by the assessment officer was canceled on technical grounds, as it was issued by the jurisdiction officer instead of the legally mandatory faceless assessing officer. In reaching its decision to cancel the notice, the Honorable High Court trusted the installed examples. If the example changes, and tax authorities revive the writ petition in future, then the decision will be taken on the basis of merit, considering various other issues raised to challenge the revaluation proceedings.
This notice was related to the revaluation of taxable income for the assessment year 2019-20 related to the loan exemption of ₹ 25,185.51 crore in favor of Tata Steel BSL Limited (now merged with the company). The company had earlier filed a writ petition in the Bombay High Court, in which the right to the assessment officer was questioned in the operation of revaluation of taxable income for the assessment year 2019-20. In addition, the company received an assessment order issued by the assessment officer on March 31, 2025, in which the taxable income was re-evalted for the assessment year 2019-20 and the amount waived was increased by the amount waived.
On August 12, 2025, the Honorable Bombay High Court heard the case. According to the order received to the company on August 16, 2025, the company informs that, during the hearing held on August 12, 2025, the Honorable Bombay High Court canceled the notice and all subsequent action or orders that resulted in the result.
The notice issued by the assessment officer was canceled on technical grounds, as it was issued by the jurisdiction officer instead of the legally mandatory faceless assessing officer. In reaching its decision to cancel the notice, the Honorable High Court trusted the installed examples. If the example changes, and tax authorities revive the writ petition in future, then the decision will be taken on the basis of merit, considering various other issues raised to challenge the revaluation proceedings.