2021 (12) TMI 570

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...., the petitioner has assailed the impugned notice dated 30.06.2021 issued under section 148 of the Income Tax, 1961. 3. It is submitted by the learned counsel for the petitioner that by passing of the Finance Act, 2021 a new section being section 148A has been introduced in the Income Tax Act, 1961 w.e.f. 01.04.2021. The said provision reads as follows: "148A. The Assessing Officer shall, before issuing any notice under section 148, - (a) conduct any enquiry, if required, with the prior approval of specified authority, with respect to the information which suggests that the income chargeable to tax has escaped assessment; (b) provide an opportunity of being heard to the assessee, with the prior approval of spec....

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....021; or (b) the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner that any money, bullion, jewellery or other valuable article or thing, seized in a search under section 132 or requisitioned under section 132A, in the case of any other person on or after the 1st day of April, 2021, belongs to the assessee; or (c) the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner that any books of account or documents, seized in a search under section 132 or requisitioned under section 132A, in case of any other person on or after the 1st day of April, 2021, pertains or pertain to, or any information contained therein, relate to, the ....

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....d 27.02.2021, time-limit for various provisions, but without interfering with the time-limit provided in section 148 of the Income Tax Act, were extended. Accordingly, the said notification is of no relevance in the present case. By notification dated 31.03.2021, the time limit prescribed for compliance of any action including issuance of notice under section 148 was extended till 30.06.2021. Accordingly, it is submitted that the notice under section 148 of the Income Tax Act, which is impugned in this case was issued under the earlier regime of section 148 i.e. as it stood prior to 01.04.2021, was saved and was lawful and sustainable on facts and in law. 7. It is submitted that by virtue of delegated legislation, the notifications issue....

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....d Departmental counsel. 10. Heard both sides on the prayer for interim relief. 11. Having considered the materials available on record as well as the decisions cited at the Bar, the prima facie opinion of the Court, for the purpose of interim order, is that by virtue of notifications dated 27.02.2021 and 31.03.2021 issued by the Central Board of Direct Taxes, as referred herein before, though extends the period of limitation in respect of issuance of notice under section 148 of the Income Tax, Act, but the said notification is not found to empower the Central Board of Direct Taxes to put into oblivion the provision of section 148A of the Income Tax Act, which was inserted by virtue of the Finance Act, 2021 and was notified w.e.f. 01.0....