The Tax Publishers

Income Tax--Reassessment

Proceedings Under Section 147/148 of the Act Pending the Proceedings Under Section 154 of the Act--Whether Permissible

Akhilesh Kumar Sah

In this write-up, the learned author discusses a recent judgment of the Supreme Court in the case of section M. Overseas Pvt. Ltd. v. CIT (Civil Appeal No. 3012-13 of 2012; decided on 7-12-2022.) whereby the Supreme Court held that during the pendency of the proceedings under Section 154 of the Act, it is not permissible on the part of the Revenue to initiate the proceedings under Section 147/148 of the Act pending the proceedings under Section 154 of the Act.

1. Introduction

In s.M. Overseas Pvt. Ltd. v. CIT (CA No. 3612-3613 of 2012) decided on 07-12-2022, against the judgment and orders dated 27-7-2010 passed by the High Court of Punjab & Haryana at Chandigarh in ITA No. 556 of 2009 as well as the subsequent order dated 29-9-2010 passed in Review Application No. 166-CII of 2010 dismissing the Review Application preferred by the assessee, the assessee preferred the Appeals before the Hon'ble Supreme Court.

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