2022 (9) TMI 553

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....passed by the Income Tax Officer 5(1), Indore under Section 148A (d) of the Income Tax Act, 1961 (in short the Act) in consequence to the order dated 04.05.2022 passed by the Hon'ble Apex Court, whereby the case of the petitioner is found to be fit for issuance of notice under Section 148 of the Act for the Assessment Year, 2013 - 2014. 02. The facts of the case in short are as under:- 2.1. The petitioner is a company registered under the provisions of the Companies Act, 1956 (now the Companies Act, 2013). The petitioner is a listed company on the Bombay Stock Exchange and is engaged in the business of IT, ITes and newspaper distribution. The petitioner had filed its return of income tax for the Financial Year, 2012 - 13 relevant ....

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....022 for implementation of the aforesaid judgment passed by the Apex Court. 2.4. In pursuant to the aforesaid judgment and the direction issued by the CBDT, respondent No.2 has issued a fresh notice dated 20.05.2022 under newly inserted Section 148 of the Act to the petitioner. The petitioner has submitted a reply to the aforesaid notice inter alia on the ground that assessment had become timebarred, hence, cannot be reopened. Vide impugned order dated 26.07.2022, respondent No.2 has rejected the objection and concluded that it is a fit case for issuance of notice under Section 148 of the Act for Assessment Year, 2013 - 14. Hence, the present writ petition before this Court. 03. Shri P.M. Choudhary, learned Senior Counsel appearing for....

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....f the Act, the petitioner will get full opportunity to contest before the Assessing Authority, therefore, the writ petition is liable to be dismissed as premature. 05. We have heard learned counsel for the parties at length and perused the record. 06. Section 148 of the Act provides that before making the assessment, reassessment or re-computation under Section 147 of the Act and subject to the provisions of Section 148 of the Act, the Assessing Authority shall serve a notice on the assesses along with a copy of the order if required under Section 148(d) requiring him to furnish within such period as may be specified in such notice, a return of his income or income of other persons in respect of which he is assessable under the Act du....

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....- "10. In view of the above and for the reasons stated above, the present Appeals are ALLOWED IN PART. The impugned common judgments and orders passed by the High Court of Judicature at Allahabad in W.T. No.524/2021 and other allied tax/petitions is/are hereby modified and substituted as under:- (i) The impugned section 148 notices issued to the respective assessees which were issued under unamended section 148 of the IT Act, which was the subject matter of the writ petitions before various respective High Courts shall be deemed to have been issued under section 148A of the IT Act as substituted by the Finance Act, 2021 and construed or treated to be show-cause notices in terms of section 148A(b). The assessing officer sha....