2021 (12) TMI 1090

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....ndents.   P.C. : 1. Petitioner is impugning a notice dated 11th March 2019 issued under Section 148 of the Income Tax Act, 1961 (the said Act) and order dated 28th October 2019 rejecting the objections of petitioner. 2. Notice under Section 148 of the said Act dated 11th March 2019 for Assessment Year 2012-2013 has been issued after the expiry of four years from the relevant assessme....

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.... Rule 8D with regard to dividend income was attracted but while completing the scrutiny assessment no mention is made for the same. During the assessment proceedings, after petitioner filed its revised return of income on 29th March 2014, respondent no.1 issued notice under Section 142(1) of the said Act on 17th September 2014. Among other queries, respondent no.1 specifically inquired about the d....

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.... 28th January 2015. Respondent no.1 has, therefore, applied his mind with regard to petitioner's dividend income while passing the assessment order under Section 143(3) for Assessment Year 2012-2013. We find that the notice has been issued without proper jurisdiction. 5. Mr. Suresh Kumar relied upon a judgment of this Court in Crompton Greaves Ltd. V/s. Assistant Commissioner of Income Tax,....

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....f the notice seeking to reopen assessment, that will certainly not be fatal to the assumption of jurisdiction under Sections 147 and 148 of the Act. The Court held "However, if from the reasons, no case of failure to disclose is made out, then certainly the assumption of jurisdiction under Sections 147 and 148 of the Act would be ultra vires, being in excess of the jurisdictional restraints impose....