2023 (5) TMI 640 - SCH - Income Tax

Supreme Court dismisses special leave petition, upholds impugned judgment, and disposes of pending applications.

The Supreme Court of India, comprising Hon'ble Mr. Justice Krishna Murari and Hon'ble Mr. Justice V. Ramasubramanian, dismissed a special leave petition ... Reopening of assessment - Validity of approval granted by the CIT u/s 151 - earlier Revision u/s 263 dropped - Subsequently Reopening of assessment u/s 147 initiated - HC held to grant or not to grant approval under Section 151 of the said Act to re-open an assessment is coupled with a duty and the Commissioner was duty bound to apply his mind to the proposal put up to him for approval in the light of the material relied upon by the AO. Such power cannot be exercised casually, in a routine and perfunctory manner. We have to observe that if only the PCIT had read the file, he would not have been satisfied with the reasons. Petition allowed - HELD THAT:- We are not inclined to interfere with the judgment and order impugned in this petition. SLP dismissed. 'Delay condoned.' The Court declined to disturb the impugned judgment and order, holding: 'We are not inclined to interfere with the judgment and order impugned in this petition. The special leave petition accordingly stands dismissed. Pending application(s), if any, shall stand disposed of.' The petition for special leave was therefore dismissed on merits with no interference; any ancillary or interlocutory applications before the Court are disposed of. No substantive alteration to the underlying adjudication was made.