2024 (12) TMI 69

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....der dated 26.03.2023 passed u/s 147 read with section 144B of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') by the Assessment Unit, Income Tax Department (hereinafter referred to as the Ld. AO). 2. The facts, in brief, are that on the basis of information that during the year under consideration, the assessee had made two transactions in immovable properties, however, no return of income was filed, the notice u/s 148 of the Act dated 29.03.2022 was issued calling the assessee to file the return. The assessee filed return on 23.03.2023 and, subsequently, a notice u/s 143(3) was issued on 01.03.2023 and the impugned assessment was completed on 26.03.2023. 2.1 The AO had examined the transaction of purchase of immovable pro....

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....u/s 250 of 1961 Act (dated 06.03.2024) are both invalid and deserve to be quashed in toto because they are founded and based on invalid and flawed reopening action u/s 148 of 1961 act which "reopening" is made totally contrary to mandate of 1961 Act; 1.1 Impugned Assessment order dated 26.03.2023 passed u/s 147/144B is invalid being based on invalid notice issued u/s 148 of 1961 Act dated 29.03.2022 which is patently in violation of section 151A of 1961 Act read with CBDT notifications issued thereunder; therefore first appeal order dated 06.03.2024 is also invalid. Both order may please be quashed and set aside; 1.2 Impugned Assessment order dated 26.03.2023 passed u/s 147/144B is invalid being based on invalid notice issued u/s 148 of....

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....e. 1.6 Impugned Assessment order dated 26.03.2023 passed u/s 147/144B is invalid being based on invalid notice issued u/s 148 of 1961 Act dated 29.03.2022 in turn based on invalid sanction u/s 151 which also suffers from total non application of mind as evident from admitted and undisputed facts recorded in para 2.4 of impugned asst order, therefore first appeal order dated 06.03.2024 is also invalid. Both order may please be quashed and set aside PART-2 GROUNDS ON MERITS: ABRITRARY AND NON APPLICATION OF MIND ON PART OF LD AO AND LD CIT-A 2. That Impugned Assessment order dated 26.03.2023 passed u/s 147/144B and first appeal order dated 06.03.2024 are totally invalid and unlawful in so far as sole /only impugned addition made u/s 6....

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....ening proceedings and notice pertain to the period beyond three years. We find that section 149(1)(b) of the Act lays down the threshold for reopening in case of income escaping assessment is of Rs. 50 lakhs, if the reopening is of a period beyond three years. This new regime for reopening assessment takes away the jurisdiction of reassessment beyond the limitation prescribed u/s 149(1)(a) of the Act where the amount alleged to have escaped is less than Rs. 50 lakh. 5. As we consider the notice under clause (b) of section 148A of the Act available at page 1 of the paper book along with the Annexure available at page No.2 of the paper book, we observe that while issuing this notice under clause (b) of section 148A of the Act, the AO has men....