2023 (8) TMI 1084

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.... Deepak Tralshawala a/w Mr. V.S. Hadade. For the Respondents : Mr. Suresh Kumar. P.C. : 1. Petitioner is impugning a notice dated 31st March 2021 issued under Section 148 of the Income Tax Act, 1961 (the Act) and the order dated 11th March 2022 rejecting petitioner's objections to re-open. 2. Petitioner is an asset reconstruction company. Petitioner had filed return of income for Asses....

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....sanction required under Section 151 of the Act issuing notice under Section 148 of the Act by A.O. is absent. The reason for petitioner to state this is because in the approval copy under Section 151 of the Act made available to petitioner states "Reasons to Believe - As per Annexure." But in the annexure it is only blank page. In ground (N) to the petition, petitioner has alleged as under : ....

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....It contains reasons with the remark "As per Annexure". A copy of the reasons was provided to the petitioner vide later dated 15.11.2021. 5. Therefore, there is no denial of the fact that the annexure did not contain any reasons. On this ground alone in our view the impugned notice and the order on objections have to be quashed and set aside. 6. During the hearing Mr. Suresh Kumar tendered ph....

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....l is also shown as 31st March 2021. 7. Therefore, we are not inclined to accept the submissions of Mr. Suresh Kumar that there was proper reasons recorded based on which approval was obtained under Section 151 of the Act and that there was application of mind by the Additional Commissioner of Income Tax while according the approval. 8. In the circumstances, on this ground also the petition i....