TMI Blog2021 (12) TMI 570X X X X Extracts X X X X X X X X Extracts X X X X ..... ax, Act, but the said notification is not found to empower the Central Board of Direct Taxes to put into oblivion the provision of section 148A of the Income Tax Act, which was inserted by virtue of the Finance Act, 2021 and was notified w.e.f. 01.04.2021, as if the said section 148A would not apply till limitation prescribed under section 148 does not lapse or expire. The implementation of the effective date of section 148A which is notified to be 01.04.2021, was certainly not extended by virtue of notification dated 27.02.2021 and 31.03.2021 and therefore, the Court finds that the decision rendered by the Allahabad High Court [ 2021 (10) TMI 517 - ALLAHABAD HIGH COURT] as well as Rajasthan High Court [ 2021 (12) TMI 207 - RAJASTHAN HIG ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prior approval of specified authority, with respect to the information which suggests that the income chargeable to tax has escaped assessment; (b) provide an opportunity of being heard to the assessee, with the prior approval of specified authority, by serving upon him a notice to show cause within such time, as may be specified in the notice, being not less than seven days and but not exceeding thirty days from the date on which such notice is issued, or such time, as may be extended by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ized in a search under section 132 or requisitioned under section 132A, in case of any other person on or after the 1st day of April, 2021, pertains or pertain to, or any information contained therein, relate to, the assessee. Explanation.- For the purposes of this section, specified authority means the specified authority referred to in section 151. 4. Referring to the said newly inserted provision of section 148A of the Income Tax Act, it is projected that the Assistant Commissioner of Income Tax (respondent no.2) had given a go-bye to the said mandatory provisions which requires the said authority to conduct an inquiry, if required, with prior approval of the competent authority and also to provide an opportunity of being heard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rlier regime of section 148 i.e. as it stood prior to 01.04.2021, was saved and was lawful and sustainable on facts and in law. 7. It is submitted that by virtue of delegated legislation, the notifications issued by the Central Board of Direct Taxes, are binding on all in view of the provisions of section 119 of the Income Tax Act. It is further submitted that the period of limitation has been extended by the Supreme Court of India by virtue of various orders passed in Suo-Moto Writ Petition no.3/2020 as well as various miscellaneous/ interlocutory proceedings therein. Accordingly, it is submitted that despite the insertion of section 148A of the Income Tax Act w.e.f. 01.04.2021, the respondent no.2 was having authority and competence to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not found to empower the Central Board of Direct Taxes to put into oblivion the provision of section 148A of the Income Tax Act, which was inserted by virtue of the Finance Act, 2021 and was notified w.e.f. 01.04.2021, as if the said section 148A would not apply till limitation prescribed under section 148 does not lapse or expire. 12. The implementation of the effective date of section 148A which is notified to be 01.04.2021, was certainly not extended by virtue of notification dated 27.02.2021 and 31.03.2021 and therefore, the Court finds that the decision rendered by the Allahabad High Court as well as Rajasthan High Court to have more persuasive value in respect of the issue raised by the petitioner with all respect to the decisio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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