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 231 - BOMBAY HIGH COURTValidity of reopening of assessment - Petitioner had not filed its ROI and no reply also has been filed against notice under Section 148A (a) - Valid approval u/s 151 provided or not? - another notice was issued u/s 148A (b) stating that the submissions made were not satisfactory and Petitioner failed to reconcile each and every entry in the notice with ITR filed by it - HELD THAT:- We agree with Petitioner contractual receipts and interest earned on securities have been raised for the first time in the impugned order passed under Section 148A (d) of the Act. Also, Petitioner, in the letter dated 14th April 2023, has explained the rent receipt and source and nature of foreign remittances and if the AO was not satisfied with the explanation, he ought to have, in the impugned order dated 20th April 2023, made out a case as to why he does not agree with the explanation given by Petitioner than making a bald and incorrect statement that Assessee has failed to demonstrate that these items have been disclosed. In the circumstance, in our view, the impugned order under Section 148A (d) of the Act has been passed without application of mind. It is obvious that even the sanction that is accorded under Section 151 of the Act, has been issued without application of mind. We say this because if only the Range Head or the PCIT had bothered to read the file together with the notices issued under Section 148A (b) of the Act, they would have not recommended or approved issuance of the notice under Section 148 of the Act. In our view, the impugned order cannot be sustained. The same is hereby quashed and set aside. Decided in favour of assessee.
|