Reassessment reopening challenged on changed factual basis; interim stay granted on the initiation order and notice.

Interim protection was granted against a reassessment initiation order passed under section 148A(d) and the consequential notice under section 148, in a writ concerning AY 2015-16. The petitioner had challenged the reopening on the basis that the explanation given in response to the section 148A(b) notice had earlier been accepted, while the Assessing Officer later proceeded on a different footing by questioning the source of funds used to repay part of the loan. The stay operates on the impugned order and notice until further orders, pending fuller consideration of the challenge.

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Issues: Whether interim protection should be granted against the order passed under section 148A(d) of the Income-tax Act, 1961 and the consequential notice issued under section 148 of the Act, in a writ petition concerning AY 2015-16.

Analysis: The petitioner challenged the reassessment initiation on the ground that the explanation offered in response to the notice under section 148A(b) had been accepted earlier, but the Assessing Officer had subsequently proceeded on a different basis by questioning the source of funds used to repay a part of the loan amount. The Court issued notice, recorded the Revenue's appearance, and considered the matter fit for interim protection pending further hearing.

Outcome: Interim stay was granted on the operation of the order dated 23.07.2022 passed under section 148A(d) and on the consequential notice dated 23.07.2022 issued under section 148 until further orders.

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