2022 (12) TMI 294

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....for M. R. Bhatt & Co. waives service of notice of Rule on behalf of the respondent. 1.2 Heard learned advocate Mr. Hardik Vora for the petitioner and learned senior advocate Mr. M. R. Bhatt for M. R. Bhatt & Co. for the respondent. 2. The challenge in this Special Civil Application is directed against notice dated 30.3.2021 issued under section 148 of the Income Tax Act, 1961 in respect of the Assessment Year 2014-2015. 2.1 In the said notice, Assessing Officer of the Income Tax Department stated that he had reason to believe that the income chargeable to tax for the assessment year 2014-2015 had escaped the assessment within the meaning of section section 147 of the Income Tax Act, 1961. The income for the said assessment year was there....

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....objections to the reasons recorded on 2.7.2021 inter alia submitting that Assessing Officer had specifically inquired and dealt with the issue for the purpose of reopening of assessment. Paragraph No.3 of notice under section 142(1) dated 30.06.2016 was extracted to submit that the said issue was raised by the Assessing Officer and the assesee had given reply dated 9.9.2016. It was also submitted that no new material was available with the Assessing Officer to justify the re-opening of the assessment. 4. From the record, it could be seen that when the notice under section 142(1) of the Act was given to the petitioner, one of the details required to be furnished as per paragraph No. 18 for the said notice was as under, "Have you earned an....

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.... the Assessing Officer in issuing the order such course was not permissible in law. The entire assumption of jurisdiction to reopen the assessment was without any factual and legal basis. 5.1 Furthermore, the present case offers a situation where powers under section 148 of the Act were invoked after four years. Notice was issued on 30.3.2021 seeking to re-open the Assessment for the financial year 2014-2015. 5.2 Now, Section 147 reads as under, "147. Income escaping assessment - If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections 148 to 153, assess or reassess such income and also any other income chargeable to tax....