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N. V. ANJARIA, DEVAN M. DESAI
Sahil Infra Creative Pvt. Ltd. – Appellant
Versus
Income Tax Officer Ward 2(1)(3), Surat – Respondent
JUDGMENT :
N.V.ANJARIA, J.
Heard learned advocate Mr.Aditya Ajgaokar with learned advocate Mr. Bhaumik Dholariya for the petitioner and learned advocate Mr.Karan Sanghani for the respondents.
2. What is prayed in this petition filed under Article 226 of the Constitution is to set aside order dated 30.07.2022 under Section 148A(d), as also the consequential notice dated 30.07.2022 issued under Section 148 of the Income Tax Act, 1961, which were in respect of Assessment Year 2016-17.
3. Noticing the relevant facts, the petitioner engaged in the business as builder, land-organiser, developer of lands and such other infrastructural projects, filed its return of income alongwith computation of income for the Assessment Year 2016-2017 declaring loss of Rs. 8,24,444/- on 4.10.2016. Thereafter, on 30.6.2021, respondent No.1- the Income Tax Officer issued notice under section 148 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) requiring the petitioner to file return of income for Assessment Year 2016-2017. The petitioner filed its return of income under section 139 of the Act on 30.7.2021. The petitioner thereafter requested for copy of reasons recorded from the officer. The
The main legal point established in the judgment is the importance of providing the assessee with a reasonable opportunity of being heard and the right to file a defense in reassessment proceedings u....
The main legal point established in the judgment is the significance of adhering to the procedure prescribed under Section 148A of the Income Tax Act, 1961 before initiating reassessment proceedings.....
The court established that the discretionary nature of inquiries under Section 148A does not mandate a personal hearing or exhaustive justification for the Assessing Officer's decisions.
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 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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