Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 1055 - HC - Income TaxReopening of assessment - validity of order passed u/s 148A(d) - erstwhile Company got amalgamated with the Petitioner vide an order of NCLT dated 8th November, 2017 resulting in the merger of all the transactions entered into by the erstwhile company - Petitioner states that the Respondent wrongfully passed the order u/s 148A(d) of the Act ignoring the contentions of the Petitioner that assessment under Section 143(3) of the Act had already been finalized in case of the Petitioner for the relevant assessment year - HELD THAT:- As revenue, accepts notice. On instructions, he states that the respondents-revenue has no objection if the file is remanded back to the Assessing Officer for fresh consideration. Keeping in view the aforesaid statement, the impugned order passed under Section 148A(d) and notice issued under Section 148 of the Act both dated 31st July, 2022 are set aside and the matter is remanded back to the Assessing Officer for a fresh decision in accordance with law within four weeks. In the event, the petitioner is aggrieved by the said decision, the petitioner shall be at liberty to file appropriate proceedings in accordance with law.
|