Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2024 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (5) TMI 33 - MADRAS HIGH COURTRevision u/s 263 - scrutiny assessment was completed on the return of income filed - petitioner had an alternate remedy before the appellate Tribunal u/s 253(1)(c) of the Income Tax Act - HELD THAT:- A survey was conducted under Section 133A of the Income Tax Act, 1961 on 14.03.2017. The petitioner had declared sum under Pradhan Mantri Garib Kalyan Yojana Scheme [PMGKYS] 2016. It is thereafter, the petitioner filed return on 03.11.2017 declaring a total loss which culminated in the scrutiny assessment order dated 30.12.2019 under Section 143(3) of the Income Tax Act, 1961, for the Assessment Year 2017-2018. It is, in this background, the show cause notice was issued under Section 263 of the Income Tax Act, 1961. The scrutiny assessment order passed under Section 143(3) of the Income Tax Act, 1961, cannot be confused with the impugned order pursuant to invocation of power under Section 263 of the Income Tax Act, 1961. Therefore, there is no merit in this Writ Petition. Further, the issue involves disputed question of facts, liberty is given to the petitioner to file a statutory appeal before the Appellate Tribunal u/s 253(1)(c) of the Income Tax Act, 1961, within a period of 45 days from the date of receipt of a copy of this order. The petitioner is also at liberty to move suitable appeal under the same proviso against the assessment order passed u/s 144 r/w section 263 and144B of the Income Tax Act, 1961, within such time. The petitioner is also at liberty to move suitable application for staying the operation of the impugned order as also the assessment order passed on 24.03.2023 under Section 144 read with Section 263 read with Section 144B of the Income Tax Act, 1961, along with the proposed appeal.
|