TMI Blog2024 (4) TMI 879X X X X Extracts X X X X X X X X Extracts X X X X ..... t proceedings u/s 147 r.w. Section 148 in the instant case has been initiated without valid approval u/s 151 of the Act. Needless to say, Section 151 of the Act serves as a cardinal safeguard for valid initiation of re-assessment proceedings and requires to be strictly followed. The satisfaction on an escaped income by Principal Chief Commissioner / Chief Commissioner / Principal Commissioner / Commissioner of Income Tax u/s 151(1) is thus incumbent before the proceedings u/s 147 is set in motion. In the instant case as noted, the approval has been obtained from Addl. CIT not competent for granting requisite approval u/s 151 of the Act. Such remissness on the part of the AO have rendered the entire re-assessment proceedings invalid and bad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 30.12.2014. Thereafter, notice dated 30.03.2021 was issued under Section 148(1) of the Act seeking to reopen the completed assessment of the assessee to assess certain unexplained cash credit aggregating to Rs. 1,45,00,000/-. The ld. counsel adverted to the aforesaid notice issued under Section 148 of the Act to submit that as per such notice, the approval of Additional / Joint Commissioner of Income Tax, Central Circle, Meerut has been admittedly obtained for issuance of such notice in terms of Section 151 of the Act. This fact of approval of Additional Commissioner of Income Tax as per provisions of Section 151 of the Act for issuance of notice under Section 148 has also been reiterated in the last paragraph of the reasons re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct while initiating reassessment proceedings under Section 147 of the Act instead of proper approval of the superior authority, namely, Principal Chief Commissioner of Income Tax / Chief Commissioner of Income Tax / Principal Commissioner of Income Tax / Commissioner of Income Tax for this purpose under Section 151 of the Act due to lapse of 4 years from the end of A.Y. 2015-16 at the time of issue of reopening notice. 7. It is an admitted position that 4 years has elapsed from the end of the A.Y. 2015-16 at the time of issue of notice under Section 148 of the Act. Consequently, the approval of Additional Commissioner of Income Tax under Section 151 of the Act obtained by AO instead of approval the superior authorities named in the erstwhil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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