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December 2024

Reassessment — Notice — Statutory condition — Failure to furnish approval of designated authority to assessee along with reasons recorded — Notice and order disposing of assessee’s objections set aside.

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

65 Tia Enterprises Pvt. Ltd. vs. ITO

[2024] 468 ITR 5 (Del)

A.Y. 2011–12

Date of order: 26th September, 2023

Ss. 147, 148 and 151 of ITA 1961

Reassessment — Notice — Statutory condition — Failure to furnish approval of designated authority to assessee along with reasons recorded — Notice and order disposing of assessee’s objections set aside.

On a writ petition challenging the notice issued u/s. 148 of the Income-tax Act, 1961 for reopening the assessment u/s. 147 for the A.Y. 2011–12 and the order disposing of the objections, on the grounds that the approval for the reassessment proceedings was accorded by the Principal Commissioner without application of mind and not furnished along with the reasons recorded the Delhi High Court, allowing the petition, and held as under:

“i) The approval granted by the statutory authorities for reassessment proceedings u/s. 147 of the Income-tax Act, 1961, as required under the provisions of the Act, has to be furnished to an assessee along with the reasons to believe that income has escaped assessment. The stat

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