2023 (6) TMI 134

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....s, at least three days before the next date of hearing. W.P.(C) 7190/2023 & CM Appl.27980/2023 [Application filed on behalf of the petitioner seeking interim relief] 2. This writ petition concerns Assessment Year (AY) 2016-17. 3. The petitioner has assailed the notices dated 28.03.2023 and 29.03.2023 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, "Act"]. 3.1 Besides this, challenge is also laid to the order dated 19.04.2023 passed under Section 148A(d) of the Act. In addition thereto, a challenge is laid to the consequential notice dated 19.04.2023 issued under Section 148 of the Act. 4. Mr Arvind P. Datar, learned senior counsel, who appears on behalf of the petitioner, submits that the reassessment proc....

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....which assessee's activities are not being carried out in accordance with the objects of the Trust are as below: (i) Payment to JASVS amounting to INR 359, 150/m (ii) Utilization of funds from Namati amounting to INR 1,38,32,400/a (iii) Expenses related to Book Launch Event amounting to INR 6,74,831/m The total expenses amounting to INR1,48,66,381/- incurred by the assessee for which assessee failed to fulfil the necessary condition for claiming benefit u/s 11&12 of IT Act,1961 has escaped assessment which is more than the 50 Lakhs limit as prescribed in Section 149(1 )(b) of IT Act, 1961" Further expenditure incurred by the assessee towards activities which are not as per objects of Trust is ....

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.... (b) if three years, but not more than ten years, have elapsed from the end of the relevant assessment year unless the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more for that year;... 5.4 It is contended, as noticed above, that the amended provision i.e., the amended Section 149 of the Act has been applied to the petitioner, although the transaction relates to AY 2016-17. 6. Mr Vipul Agarwal, learned senior standing counsel, who appears on behalf of the respondents/revenue, on the other hand, states that since the ....