TaxTMI 
TaxTMI 
2020 (1) TMI 563
X X X X Extracts X X X X
X X X X Extracts X X X X
....ct, 1956. The petitioner / Company, on 25.10.2015, electronically, submitted a return for the assessment year 2015 - 16 (Financial Year 2014 - 15) disclosing a return of Rs. 12,21,160/-. On 12.09.2016, a notice under Section 143 (2) of the Income Tax Act, 1961 (hereinafter referred as the Act of 1961) informing the petitioner / Company that the case of the petitioner / Company has been selected for scrutiny. 03. The facts of the case further reveal that the petitioner / Company, in response to the aforesaid notice, submitted all desired information to respondent No.2 on 29.11.2017. The respondent No.2, thereafter, initiated proceeding under Section 147 of the Act of 1961, and thereafter, a notice was received by the petitioner / Company ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... raised several grounds before this Court and its contention is that the impugned order dated 13.08.2019 passed by the respondent No.2 / Income Tax Officer-2(3) is bad in law as no approval has been obtained from the Joint Commissioner / Competent Authority in the matter. 07. It has been stated that there is an order of assessment accepting the returned income, and therefore, without any fresh information in possession of the Assessing Officer merely on the basis of change of opinion, reopening could not have been done as has been done in the present case and proceeding under Section 148 cannot be initiated to review the earlier opinion. 08. It has further been stated that the word 'reasons to believe' used under Section 147 o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ply as well as to defend itself. 12. It has also been stated that the reason has already been given to the assessee as per the note-sheet dated 27.09.2019, and therefore, question of interference by this Court does not arise. 13. Heard learned counsel for the parties at length and perused the record. 14. The facts of the case reveal that the petitioner, in the present case, did file a return for the assessment year 2015 - 16 (Financial Year 2014 - 15) disclosing a return of Rs. 12,21,160/-. A notice under Section 143 (2) of the Act of 1961 was issued to the petitioner on 12.09.2016. The petitioner did submit all the desired information and an assessment order was passed under Section 143 (3) of the Act of 1961 on 29.11.2017 accepti....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ss such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year): Provided that where an assessment under sub- section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year....
X X X X Extracts X X X X
X X X X Extracts X X X X
....een made the subject of excessive relief under this Act; or (iv) excessive loss or depreciation allowance or any other allowance under this Act has been computed.] 148. Issue of notice where income has escaped assessment 2 (1) Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a notice requiring him to furnish within such period, not being less than thirty days, as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this Act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and....