2022 (5) TMI 956

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.... Respondent under Section 148A(d) of the Income Tax Act, 1961 (for short 'Act') for the Assessment Year 2018-19 and all consequential proceedings in pursuance thereto including issuance of the notice dated 9th April, 2022 under Section 148 of the Act. 2. Learned counsel for the Petitioner states that in the present case notice under Section 148A is not warranted as it is a case of Section 153C of the Act to which proviso (c) of Section 148A applies. 3. Mr. Sunil Agarwal, learned counsel for the Respondent has brought on record the instructions received by him by way of email dated 13th May, 2022. The said email is reproduced as under:- "To, Sh. Sunil Aggarwal Senior Standing Counsel, High Court 4th Floor, 15....

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....the Assessing Officer which suggests that the income chargeable to tax has escaped assessment means: (i) Any information flagged in the case of the assessee for the relevant assessment year with the risk management strategy formulated by the Board from time to time. (ii) Any final objection raised by the Comptroller and Auditor General of India to the effect that the assessment in the case of the assessee for the relevant assessment year has not been made in accordance with the provisions of this Act. Hence, considering the information received under the category clause (i) of Explanation of the section 148, the proceedings in this case were initiated u/s 148A and show cause notice under clause (b) of section 148A....

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....nded by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year and results of enquiry conducted, if any, as per clause (a); (c) consider the reply of assessee furnished, if any, in response to the show-cause notice referred to in clause (b); (d) decide, on the basis of material available on record including reply of the assessee, whether or not it is a fit case to issue a notice under section 148, by passing an order, with the prior approval of specified authority, within one month from the end of the month in which the reply refer....