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SHEEL NAGU, AMAR NATH (KESHARWANI)
Amrit Homes Pvt. Ltd. – Appellant
Versus
Deputy Commissioner of Income Tax Central Circle – 2 – Respondent
ORDER :
Instant petition filed u/A. 226 of the Constitution assails notice dated 28-4-2023 issued u/S 148 of Income Tax on the ground that order dated 28-4-2023 passed u/S.148A(d) of INCOME TAX ACT does not satisfy the foundational prerequisite of Section 148(a) (d).
2. Submission of learned Senior Counsel - Shri G. N. Purohit while attacking the impugned order passed u/S 148A(d) is as follows:-
(ii) Without taking into account the reply submitted by the petitioner/assesseee, the impugned order/notice have been issued/passed.
(iii) The notice u/S 148 is untainable on the anvil of statutory bar u/S 149(b) and also because of absence of books of accounts/documents/evidence revealing a case of escaped assessment.
3. Learned counsel for petitioner has relied upon the Coordinate Bench decision of this Court in Principal Commissioner of Income Tax -I vs. Shri Pukhraj Soni, 6-2-2019 and the decision of the Apex Court in Red Chilli International Sales vs. Income Tax Officer and another, 2023 SCC OnLine SC
Notices under Income Tax provisions must adhere to procedural requirements; failure to properly assess basis for reopening invalidates the notices.
Assessment under Income Tax requires concrete information indicating escapement of income, which was absent in this case, rendering notices invalid.
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....
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 main legal point established is the requirement for a prior show cause notice to consider the assessee's response and the prohibition on raising new issues not previously raised in the show cause....
The court emphasized that the Assessing Authority must follow the prescribed procedure under Section 148A of the Income Tax Act, 1961 and consider the material on record before issuing an order or no....
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 requirement of prior approval of the specified authority under Section 148A(d) satisfies the condition for issuance of a notice under Section 148 of the Income Tax Act, 1961.
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