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RONGON MUKHOPADHYAY, DEEPAK ROSHAN
Sevensea Vincom Private Limited, through its Director, Mr. Rupak Pasari – Appellant
Versus
Principal Commissioner of Income Tax, Central Circle, Dist-Ranchi – Respondent
JUDGMENT :
(Deepak Roshan, J.)
Heard learned counsel for the parties.
2. The instant application has been preferred by the petitioner praying therein for quashing and setting aside the notice dated 21.07.2022 passed by respondent no. 3 under Section 148 of Income Tax Act, 1961 for the Assessment Year 2016-17 and also for quashing and setting aside the order dated 21.07.2022 passed by respondent no. 4 under Section 148A(d) of the Income Tax Act, 1961 for the Assessment Year 2016-17.
Petitioner has also challenged the reassessment order dated 31.05.2023 passed by respondent no. 3 against this petitioner under Section 147 of the Act for the Assessment Year 2016-17 and the consequential Notice of Demand dated 31.05.2023, which has been issued pursuant to the reassessment order for an amount of Rs. 50,27,860/-issued by respondent no. 3.
3. The brief facts of the case as indicated in the writ application is that the petitioner is a Private Limited Company registered under the Companies Act, 2013. One notice dated 30.06.2021 under Section 148 of the Act for the Assessment Year 2016-17 was issued to the petitioner. Pursuant thereto, the petitioner asked the department for reason to believe v
Notices issued under Section 148 of the Income Tax Act beyond the limitation period are illegal and void, leading to the quashing of all consequential orders.
Reassessment notices issued beyond the statutory period are void ab initio and the procedural compliance must be strictly followed under the Income Tax Act.
Notices issued under sections 148 and 148A(d) of the Income Tax Act beyond the specified limitation period are invalid and subject to quashing.
Notices issued for reassessment under the Income Tax Act must adhere to statutory time limits; those issued beyond the time limit are considered invalid.
Point of Law : Implementation/ clarified by Instruction issued by Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, in exercise of powers under Section 119 of Act, 1961.
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.....
Notices issued under Section 148 of the Income Tax Act are invalid if they are issued beyond the stipulated 'surviving time' as established by the Apex Court, necessitating adherence to prescribed li....
The court ruled that assessments exceeding the statutory limitation period are invalid, emphasizing adherence to procedural compliance under tax law.
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