TaxTMI 
TaxTMI 
2025 (2) TMI 495
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....cts 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 so completed are invalid since the addition is made on an issue different than that for which case was re-opened. Since, the issue of re-opening did not survive the Assessment Proceedings becomes void-ab-initio. Accordingly, the Assessment 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 Proceedi....
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....g in the case and as per provisions and scheme of the Income-tax Act, 1961 ('The Act') it be held that the Assessment Proceedings completed u/s 147 of the Act are improper since the objections raised by Appellant before Ld. AO were not disposed off before passing the Assessment Order. Accordingly, the Assessment Proceedings so completed u/s 147 of the Act be kindly annulled and Appellant be granted just and proper relief in this respect. 6. 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 addition of Rs. 14,31,884/- made by disallowing the claim u/s 80P of the Act is incorrect. Accordingl....
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....ax. 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 section 139(1) of the Act. Aggrieved by the assessment order, assessee filed appeal before the ld.CI....
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....IT W.P. 4888 of 2022 (Bom HC) * M/s.Holiday Developers (P.) Ltd., Vs. ITO [W.P.3679 of 2023 (Bom HC)] * UOI Vs. Rajeev Bansal (Civil Appeal No.8629 of 2024) (SC) Submission of ld.DR : 3. The ld. Departmental Representative(ld.DR) for the Revenue relied on the order of Assessing Officer and ld.CIT(A). Ld.DR for the Revenue submitted that in this case, notice under section 148A(b) of the Act, was issued on 16.03.2022 with the approval of Principal Commissioner of Income Tax, Nashik. The notice under Section 148A(b) was issued within a period of three years from the end of Assessment Year. Therefore, as per section 151 of the Act, approval shall be by Principal Commissioner of Income Tax. In this case, admittedly, following provisions of....
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....ven days and but not exceeding thirty days from the date on which such notice is issued, or such time, as may be extended by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year and results of enquiry conducted, if any, as per clause (a); (c) consider the reply of assessee furnished, if any, in response to the show-cause notice referred to in clause (b); (d) decide, on the basis of material available on record including reply of the assessee, whether or not it is a fit case to issue a notice under section 148, by passing an order, with the pri....
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.... 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....