| |
| The Tax Publishers2019 TaxPub(DT) 3922 (Mum-Trib) INCOME TAX ACT, 1961
Section 148
Since notice under section 148 was issued in respect of relevant assessment year, which was clearly after four years from the end of the relevant assessment year and ACIT is not equivalent to the rank of CIT or any other designation as defined under section 151(1), therefore, notice which was issued to assessee was bad in law.
|
Reassessment - Validity - Sanction for issue of notice under section 151 -
Assessee challenged notice issued under section 148 contending that notice issued by ACIT was in contravention of section 151(1). As regards sanction for issue of notice, no notice shall be issued under section 148 by an AO, after the expiry of a period of four years from the end of the relevant assessment year, unless CIT was satisfied, on the reasons recorded by AO, that it was a fit case for the issue of such notice. It was further contended that no satisfaction was recorded by competent authority as required under section 151(1). Held: Admittedly, notice under section 148 was issued in respect of relevant assessment year, which was clearly after four years from the end of the relevant assessment year. ACIT is not equivalent to the rank of CIT or any other designation as defined under section 151 (1). Therefore, notice which was issued to assessee was bad in law and was required to be quashed and the same was accordingly quashed.
REFERRED : Asstt. CIT v. Rajesh Jhaveri Stock Brokers (P) Ltd. (2007) 291 ITR 500 (SC): 2007 TaxPub(DT) 1257 (SC) Sumati Dayal v. CIT (1995) 214 ITR 801 (SC) : 1995 TaxPub(DT) 1173 (SC) CIT v. Durga Prasad More (1971) 82 ITR 540 (SC) : 1971 TaxPub(DT) 0375 (SC) CIT v. Simit P. Sheth (2013) 356 ITR 451 (Guj) : 2013 TaxPub(DT) 2115 (Guj-HC)
FAVOUR : In assessee's favour
A.Y. :
IN THE ITAT, MUMBAI BENCH
 SUBSCRIBE FOR FULL CONTENT
|