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RAJIV SHAKDHER, GIRISH KATHPALIA
Standard Chartered Bank Uk – Appellant
Versus
Assistant Commissioner of Income Tax – Respondent
JUDGMENT
[Physical Hearing/Hybrid Hearing (as per request)]
Rajiv Shakdher, J. (Oral):
CM No.36806/2023
1. Allowed, subject to just exceptions.
W.P.(C) 9606/2023 & CM No.36805/2023 [Application filed on behalf of the petitioner seeking interim relief]
2. Issue notice.
2.1. Mr Sunil Agarwal, learned senior standing counsel, accepts notice on behalf of the respondents/revenue.
3. Given the directions that we propose to issue, Mr Agarwal says that he need not file a counter-affidavit, and he will argue the matter based on the record presently available with the court.
3.1. Therefore, with the consent of learned counsel for the parties, the matter is taken up for hearing and final disposal, at this stage itself.
4. This writ petition concerns Assessment Year (AY) 2019-20.
5. The petitioner has, inter alia, assailed the following orders and notices:
(i) Notice dated 31.03.2023 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, "Act"].
(ii) Order dated 03.05.2023 passed under Section 148A(d) of the Act.
(iii) Consequential notice dated 03.05.2023 issued under Section 148 of the Act.
6. The trigger for the initiation of the reassessment proceeding was the information/mater
The Assessing Officer must consider the petitioner's response and furnish the information/material before passing an order under Section 148 of the Income Tax Act.
The Assessing Officer must provide adequate reasoning for reassessment actions and ensure compliance with natural justice principles.
Compliance with procedural requirements and the right to a fair hearing are essential in proceedings under the Income Tax Act, 1961.
The principle of consistency in reasons for reopening assessments is crucial in determining the sustainability of notices issued under the Income Tax Act.
The main legal point established in the judgment is the requirement for the assessing officer to consider the record of earlier assessment years and apply the principle of consistency when the reason....
The court established that failure to supply information required for assessment invalidates the reassessment notice, supporting due process in tax proceedings.
The court emphasized the requirement to grant a minimum of seven days to respond to a notice under the Income Tax Act and the obligation to furnish material available with the Assessing Officer to th....
A personal hearing is essential in tax assessment procedures to ensure administrative fairness; failure to provide one invalidates the assessment orders.
The principle of consistency in reasons for reopening assessments across different assessment years is crucial, and the Assessing Officer must apply this principle before passing the assessment order....
The court emphasized the importance of considering the petitioner's reply and according a personal hearing before passing an assessment order under the Income Tax Act, 1961.
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