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MANMOHAN, MANMEET PRITAM SINGH ARORA
Adroit Financial Services Private Limited – Appellant
Versus
Assistant Commissioner Of Income Tax Circle 1(1), Delhi – Respondent
JUDGMENT
Manmohan, J. (Oral) - Present writ petition has been filed challenging the notice dated 7th April, 2021 issued by Respondent No. 1 under Section 148A(b) of the Income Tax Act, 1961 ('the Act'), order dated 29th July, 2022 passed by the Respondent No.1 under Section 148A(d) of the Act, the consequent initiation of reassessment proceedings vide notice dated 29th July, 2022 issued by Respondent No.1 under Section 148 of the Act for the assessment year 2013-14 and all consequential proceedings/ actions initiated pursuant thereto.
2. Learned counsel for the Petitioner states that the proceedings for the assessment year 2013-14 initiated vide assessment notice dated 29th July, 2022 are barred by limitation in view of Section 149(1)(b) of the Act, as the proceedings have been initiated after expiry of three years from the end of the relevant assessment year and the income alleged to have escaped assessment is Rs.45,34,639 i.e. less than Rs. 50,00,000. He emphasises that though Respondent No.1 has itself observed in the impugned order under Section 148A(d) of the Act that the amount alleged to have escaped assessment is below the threshold of Rs.50,00,000/-, yet Respondent No. 1 iss
The central legal point established in the judgment is that reassessment proceedings must comply with the statutory provisions and CBDT instructions, and notices cannot be issued for assessment years....
Reopening of assessment proceedings is invalid if it violates CBDT Instructions regarding threshold limits for escaped income, specifically when such income is below Rs.50,00,000.
provisions of Section 149(1) of the Act of 1961 are plain and unambiguous. Bare reading of clause (a) of sub-section (1) of Section 149 leaves no manner of doubt that normal period of limitation for ....
The main legal point established is the strict adherence to the time limits and procedural requirements for issuing a notice under Section 148 of the Income Tax Act, as interpreted and clarified by t....
The issuance of notice under Section 148A(b) was barred by limitation, violating the requirement for a reasonable opportunity to respond.
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