TaxTMI 
TaxTMI 
2025 (2) TMI 495
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....sessment Proceedings so initiated and completed be kindly annulled and Appellant be granted just and proper relief in this respect. 2. Without prejudice to other grounds and on the facts and circumstances prevailing in the case and as per provisions and scheme of the Income-tax Act, 1961 ('The Act') it be held that the Assessment Proceedings initiated u/s 147 of the Act are invalid since the requisite approval/sanction u/s 151 (ii) of the Act is not taken. Accordingly, the Assessment Proceedings so initiated be kindly annulled and Appellant be granted just and proper relief in this respect. 3. Without prejudice to other grounds and on the facts and circumstances prevailing in the case and as per provisions and scheme of the Income-tax Act, 1961 ('The Act') it be held that the notices u/s 148A and 148 of the Act were issued in violation to provisions of section 151A r.w.s 1448 of the Act. Thus, the Assessment Proceedings so initiated be kindly held to be incorrect and illegal. Accordingly, the Assessment proceedings so initiated be kindly annulled and Appellant be granted just and proper relief in this respect. 4. Without prejudice to other....
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....atur passed an order under section 148A(d) of the Act, dated 06.04.2022 with the approval of Principal Commissioner of Income Tax, Nashik. In the order under section 148A(d), the AO held that since Assessee has not filed KYC of its Members, List of Members etc., it is required to make verification of the facts of the case. It is a fit case for issuance of notice under section 148 of the Act. Then, Assessing Officer issued notice under section 148 of the Income Tax Act, dated 06.04.2022 with the approval of Principal Commissioner of Income Tax. In response to notice u/s. 148, Assessee filed Return of Income for A.Y.2018-19 on 23.04.2022 declaring income at Rs. NIL and claiming deduction under section 80P of the Act, of Rs. 14,31,884/-. Assessee filed details and Assessee also filed objections before the AO. The Assessing Officer passed an order under section 147 r.w.s. 144B of the Act on 08.03.2024. In the assessment order, the Assessing Officer has not made any addition regarding the cash deposits, however, Assessing Officer as per Section 80AC, denied the Assessee deduction under section 80P(2)(a)(i) of the Act, on the ground that Assessee had not filed Return of Income under sect....
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....approval has been granted by Principal Commissioner of Income Tax, Nashik on 15.03.2022, and then notice under section 148A(b) was issued on 16.03.2022. The order under section 148A(d) was passed on 06.04.2022, with the approval of Principal Commissioner of Income Tax. For one assessment year, one proceedings, there cannot be approvals from two different authorities. Therefore, there is no illegality in the approval. Findings & Analysis : 4. We have heard both the parties and perused the records. Both the parties have argued only on legal issue. Therefore, we are deciding only the legal issue. In this case, admittedly, order under section 148A(d) of the Act was passed on 06.04.2022 with the approval of Principal Commissioner of Income Tax, Nashik. 4.1 The relevant part of the order is scanned and reproduced as under : 4.2 Section 151 and 148A of the Act are reproduced as under : [Conducting inquiry, providing opportunity before issue of notice under section 148. 148A. The Assessing Officer shall, before issuing any notice under section 148,- (a) conduct any enquiry, if required, with the prior approval of specified authority, with respect to t....
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.... 06.04.2022 for A.Y.2018-19 which is beyond a period of three years from the end of the Assessment Year, with the approval of Principal Commissioner of Income Tax. The Hon'ble Jurisdictional High Court in the decision of Holiday Developers (P.) Ltd, Vs. ITO [2024] 159 taxmann.com 178 (Bombay) dated 29.01.2024 has held as under : Quote "1. Petitioner is impugning a order under section 148A(d) and the notice, both dated 7th April 2022 passed under section 148 of the Income Tax Act, 1961 ("Act"). Of-course Petitioner has also impugned the notice dated 17th March 2022 issued under section 148A(b) of the Act. Various grounds have been raised but one of the primary grounds for challenging the notice under section 148A(d) and the notice under section 148 of the Act both dated 7th April 2022 is that order as well as the notice both mention the authority that has granted approval, is the Principal Commissioner of Income Tax ("PCIT"), Mumbai 5 and the approval has been granted on 7th April 2022. 2. Mr. Gandhi is correct in saying that the Assessment Year ("AY") is 2018-19 and, therefore, since more than three years have expired from the end of the assessment year, Sanctioni....