Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2023 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (10) TMI 1353 - MADHYA PRADESH HIGH COURTReopening of assessment u/s 147 - applicability of the time frame provided in Section 149(1) - validity of order passed u/s. 148A(d) - as argued reassessment proceeding is based upon search conducted in October, 2014, thus the provisions of Section 148A are inapplicable in view of second proviso to Section 149 HELD THAT:- A bare perusal of second proviso to Section 149(1) of IT Act reveals that in cases where notice u/S.153A or Section 153C read with Section 153A is required to be issued in relation to a search conducted u/S.132 or books of account and other documents or any asset are requisitioned u/S.132A on or before 31.03.2021, the time frame prescribed by Section 149(1) of IT Act is inapplicable. Thus, it is obvious that in cases of search as is the case at hand, there is no restriction of time period for issuance of notice u/S.148 of IT Act. The object of second proviso to Section 149(1) of IT Act is to keep the cases pertaining to search conducted for reassessment outside the purviews of the time restriction prescribed in Section 149(1) of IT Act. Thus the second proviso to Section 149(1) of IT Act does not eclipse the power of Revenue to issue notice u/S. 148 of IT Act. Restriction, if any, imposed by second proviso to Section 149(1) of IT Act, is to the applicability of the time frame provided in Section 149(1) of IT Act to cases inter alia pertaining to search - ground raised by petitioner by relying upon second proviso to Section 149(1) of IT Act is not tenable. Petition dismissed.
|