2022 (12) TMI 225

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....he notice dated 20.03.2007 issued by respondent No.1 i.e., Income Tax Officer, Ward 9(2), Hyderabad under Section 148 r/w Section 150(1) of the Income Tax Act, 1961 (briefly 'the Act' hereinafter). 3. We find that by the order dated 24.12.2007, this Court had admitted the writ petition for final hearing and granted interim stay. 4. Respondents have neither filed any counter-affidavit nor any application for vacating the stay. 5. Before we advert to the impugned notice, it would be appropriate to refer to the orders passed by the revenue authorities. 6. Petitioner is an assessee under the Act. By the assessment order dated 19.03.1996 passed by the assessing officer under Section 143(3) of the Act for the assessment year 1993-94, ....

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....titioner was assessed at Rs.29,60,670.00. 10. To give effect to the order of the Tribunal dated 27.07.2005, assessing officer i.e., respondent No.1 passed the consequential order dated 21.12.2005 by amending the assessment already framed for the assessment year 1995-96. The capital gains amount was added to the total income of the petitioner whereafter revised total income of the petitioner was quantified at Rs.44,06,602.00. 11. It was thereafter that the impugned notice dated 20.03.2007 came to be issued to the petitioner. Impugned notice dated 20.03.2007 reads as under: Notice under Section 148 r.w.s.150(1) of the Income Tax Act, 1961 Office of the Income-tax Officer, Ward-9(2) 13th Floor, Gagan Vihar, Nampally, Hyder....

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....ity in any proceeding under this Act by way of appeal, reference or revision or by a court in any proceeding under any other law]. (2) The provisions of sub- section (1) shall not apply in any case where any such assessment, reassessment or recomputation as is referred to in that sub-section relates to an assessment year in respect of which an assessment, reassessment or recomputation could not have been made at the time the order which was the subject-matter of the appeal, reference or revision, as the case may be, was made by reason of any other provision limiting the time within which any action for assessment, reassessment or recomputation may be taken. 12.1. From a perusal of sub-section (1) of Section 150 of the Act, we find tha....