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SAUMITRA DAYAL SINGH, DONADI RAMESH
Ravindra Pratap Shahi – Appellant
Versus
Union of India – Respondent
JUDGMENT
Heard Shri. Abhinav Mehrotra, learned counsel for the petitioner; Shri. Gaurav Mahajan, learned counsel for the revenue and, Shri. Anant Kumar Tiwari, learned counsel for Union of India.
2. Matter is at the fresh stage.
3. Civil Misc. (Amendment) Application No. 3 of 2024 is allowed. Amendments are deemed to have been incorporated.
4. Challenge has been raised to the reassessment proceedings initiated against the petitioner under Section 147 read with Section 148 of the Income Tax Act, 1961 (hereinafter referred to as the 'Act'). In that context, further challenge has been raised to the order dated 6.3.2024 passed by the Assessing Authority under Section 148A(d) of the Act.
5. Primarily, learned counsel for the petitioner has submitted, there is no relevant material as may give rise to the reassessment proceedings initiated against the petitioner. The entire material referred to and relied upon by the Assessing Authority came to the hands of the revenue authorities, in the course of the search proceedings against the third party namely - M/s Omaxe Limited. Petitioner was not the person searched. Second, it has been submitted, the information obtained in the course of such s
The amended Income Tax Act allows reassessment without prior 'reason to believe', broadening the scope for initiating proceedings based on third-party information.
The court established that under the amended Section 148A of the Income Tax Act, the requirement to record 'reason to believe' has been replaced with a subjective decision-making process, allowing fo....
Reassessment under Section 147 after four years requires proof of failure to disclose material facts, which was not demonstrated in this case.
Reassessment under Section 147 requires proof of failure to disclose material facts during the original assessment, which was not demonstrated in this case.
The main legal point established in the judgment is that reassessment proceedings must be based on tangible material and cannot be initiated solely on the basis of a 'change of opinion' without fresh....
Reopening of assessment under Section 148 is invalid if based on materials already available during the original assessment, constituting a mere change of opinion without fresh evidence.
A defective return cannot be regarded as an invalid return.
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