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ARUP KUMAR GOSWAMI, DEEPAK KUMAR TIWARI
Barbrik Projects Ltd. (Through Director Shri Ayush Agrawal, S/o. Shri Mahesh Kumar Agrawal) – Appellant
Versus
Union of India, through Secretary, Central Board of Direct Taxes, New Delhi – Respondent
JUDGMENT :
[Arup Kumar Goswami, J.]
1. Heard Mr. S. Rajeshwar Rao, learned counsel, appearing for the appellant. Also heard Mr. Ramakant Mishra, learned Deputy Solicitor General, appearing for the respondent No. 1 as well as Ms. Naushina Afrin Ali, learned counsel, appearing for the respondents No. 2 to 4.
2. This writ appeal filed by the petitioner is presented against an order dated 28.07.2022 passed by the learned Single Judge in WP(T) No. 186/2022 dismissing the writ petition. The writ petition was filed challenging the order dated 31.03.2022 passed by the Assessing Officer (for short, the AO) under Section 148-A of the Income Tax Act, 1961 (for short, the Act) and the notice issued under Section 148 of the Act.
3. The petitioner is a company engaged in execution of civil construction works and it had filed return of income tax under Section 139(1) of the Act for the Assessment Year (for short, AY) 2018-2019 on 26.03.2019 declaring total income at Rs.43,14,13,840/-. A notice under Section 143(2) of the Act was issued to the assessee on 23.09.2019. By an order dated 12.04.2021 passe
The court emphasized that the Assessing Authority must follow the prescribed procedure under Section 148A of the Income Tax Act, 1961 and consider the material on record before issuing an order or no....
The requirement of prior approval of the specified authority under Section 148A(d) satisfies the condition for issuance of a notice under Section 148 of the Income Tax Act, 1961.
The central legal point established in the judgment is the interpretation of the amended re-assessment scheme introduced by the Finance Act, 2021, and the importance of upholding principles of natura....
Under section 147 of the Act the proceedings for the reassessment can be initiated only if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any....
The notice issued under Section 148A(b) of the Income Tax Act was invalid due to procedural errors, lacking necessary information on escaped income and failing to follow required inquiry protocols.
Reopening of assessment based on incorrect information without due verification by the Assessing Officer is declared illegal.
The court held that the Assessing Officer's failure to consider the petitioner's detailed replies before passing the reassessment order violated procedural justice under the Income Tax Act.
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