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Reassessment — Notice — Sanction of prescribed authority — Sanction accorded by competent authority by merely stating “yes” — Non-application of mind — Notice and reassessment proceedings invalid.

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 3 mins

47 Principal CIT vs. Pioneer Town Planners Pvt. Ltd.

[2024] 465 ITR 356(Del.)

A. Y. 2009-10

Date of order: 20th February, 2024

Ss. 147, 148 and 151 of ITA 1961

Reassessment — Notice — Sanction of prescribed authority — Sanction accorded by competent authority by merely stating “yes” — Non-application of mind — Notice and reassessment proceedings invalid.

Subsequent to search operations u/s. 132 of the Income-tax Act,1961 in the premises of certain group entities, of which the assessee was one, reassessment proceedings u/s. 147 were initiated against the assessee. The assessee requested the Assessing Officer to treat the original return as filed in response to the notice u/s. 148. The Assessing Officer, in his order u/s. 143(3) read with section 147, made additions on account of unexplained share premium and expenditure of commission for accommodation entr

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