9911796707
TMI Blog2022 (7) TMI 1458X X X X Extracts X X X X X X X X Extracts X X X X ..... d 27th March 2021 issued under section 148 of the Income Tax Act, 1961 ('the Act') by respondent No.1 for reopening the assessment for the assessment year 2015-16. The petitioner also challenges the order dated 28th February 2022 passed by respondent No.3, whereby the petitioner's objections against the reopening of the assessment had been rejected. 2. Briefly stated the material facts are as under : (a) The petitioner fled its return of income on 30th November 2015 for the assessment year 2015-16. The return of income was processed and an intimation under section 143(1) of the Act was issued. Subsequently, the case was selected for scrutiny assessment in the course of which, the respondent No.1 called upon the petitioner to file several ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red during the course of the assessment proceedings, and therefore, in that context stated that the audit objections be treated as settled. (e) It is stated that subsequently the respondent No.2 then called upon respondent No.1 to give its report on the audit objection, wherein the stand earlier taken was reiterated that the objections were not acceptable to the department. Nonetheless in the report dated 4th March 2021, it was submitted by respondent No.1 that to protect the interest of revenue, action could be taken under sections 147, 154 or 263 of the Act. (f) It was stated that thereafter respondent No.1 recorded the reasons to believe in consonance with the audit objections that the petitioner's claim of deduction under section 32 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een granted by the Joint Commissioner, who was not competent to grant such sanction. Reliance in this regard is placed on a judgment of this Court in the case of J.M. Financial and Investment Consultancy Services Private Limited Vs. Assistant Commissioner of Income Tax, Circle 3(2)(1) & Ors. [Writ Petition No.1050-2022 dt.4-04-2022] 5. In the aforementioned case, which also pertained to assessment year 2015-16 and in which approval was granted on 26th March 2021 by the 'Additional Commissioner of Income Tax', was held to be bad inasmuch as it was held that having been issued beyond the period of four years from the relevant assessment year, the approval ought to have been accorded by the Principal Chief Commissioner or Chief Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax, still it applies to only cases where the limitation was expiring on 31st March 2020. In the case at hand, the assessment year is 2015-2016 and, therefore, the six years limitation will expire only on 31st March 2022. Certainly, therefore, the Relaxation Act provisions may not be applicable. In any event, the time to issue notice may have been extended but that would not amount to amending the provisions of Section 151 of the Act." 6. In the present case, counsel for the respondents reiterated the stand of the revenue as was taken before the Court in the aforementioned case. However, we do not find any reason to take a view different from the one which has already been taken by this Court in the aforementioned judgment. 7. Wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
