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TMI Blog2023 (6) TMI 134X X X X Extracts X X X X X X X X Extracts X X X X ..... W.P.(C) 7190/2023 & CM Appl.27980/2023 [Application filed on behalf of the petitioner seeking interim relief] 2. This writ petition concerns Assessment Year (AY) 2016-17. 3. The petitioner has assailed the notices dated 28.03.2023 and 29.03.2023 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, "Act"]. 3.1 Besides this, challenge is also laid to the order dated 19.04.2023 passed under Section 148A(d) of the Act. In addition thereto, a challenge is laid to the consequential notice dated 19.04.2023 issued under Section 148 of the Act. 4. Mr Arvind P. Datar, learned senior counsel, who appears on behalf of the petitioner, submits that the reassessment proceeding has been triggered pursuant to a survey carried out again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w: (i) Payment to JASVS amounting to INR 359, 150/m (ii) Utilization of funds from Namati amounting to INR 1,38,32,400/a (iii) Expenses related to Book Launch Event amounting to INR 6,74,831/m The total expenses amounting to INR1,48,66,381/- incurred by the assessee for which assessee failed to fulfil the necessary condition for claiming benefit u/s 11&12 of IT Act,1961 has escaped assessment which is more than the 50 Lakhs limit as prescribed in Section 149(1 )(b) of IT Act, 1961" Further expenditure incurred by the assessee towards activities which are not as per objects of Trust is duly covered in the definition of Section- 149(1 )(b)(ii) of the IT Act, 1961 i.e. expenditure in respect of transaction or 149(1)(b)(iii) i.e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch reveal that the income chargeable to tax, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more for that year;... 5.4 It is contended, as noticed above, that the amended provision i.e., the amended Section 149 of the Act has been applied to the petitioner, although the transaction relates to AY 2016-17. 6. Mr Vipul Agarwal, learned senior standing counsel, who appears on behalf of the respondents/revenue, on the other hand, states that since the reassessment proceeding was triggered qua the petitioner on account of a survey action, provisions of clause(ii) of Explanation 2 of Section 148 of the Act, would be applicable. 6.1 In other words, Mr Agarwal says that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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