TaxTMI 
TaxTMI 
2025 (6) TMI 727
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....ior Standing Counsel appearing for the respondents. 2. The challenge in this Writ Petition is to the assessment order passed by the 3rd respondent dated 30.05.2023 pertaining to the year 2016-17 and to quash the same. 3. The learned counsel appearing for the petitioner would submit that, the amount involved in the present writ petition is a sum of Rs. 3,65,09,748/- (Three Crores Sixty Five Lakhs Nine Thousand Seven Hundred and Forty Eight only). In the event of the amount is below 50 Lakhs, an approval has to be obtained for issuing 148 notice from the offices mentioned under Section 151(i) of the Act. In the event of the amount is more than 50 Lakhs, the approval has to be obtained in terms of Section 151(ii) of the Act. However, in ....
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....m to furnish within such period, as may be specified in such notice, a return of his income or the income of any other person in respect of which he is assessable under this Act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139: Provided that no notice under this section shall be issued unless there is information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment in the case of the assessee for....
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....e requisitioned under section 132A, on or after the 1st day of April, 2021, in the case of the assessee; or (ii) a survey is conducted under section 133A, other than under sub-section (2A) 22[***] of that section, on or after the 1st day of April, 2021, in the case of the assessee; or (iii) the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner, that any money, bullion, jewellery or other valuable article or thing, seized or requisitioned under section 132 or section 132A in case of any other person on or after the 1st day of April, 2021, belongs to the assessee; or (iv) the Assessing Officer is satisfied, with the prior approval of Principal Commissioner or Commi....
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....ommissioner or Director, if three years or less than three years have elapsed from the end of the relevant assessment year; (ii) Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General, if more than three years have elapsed from the end of the relevant assessment year." 9. A perusal of Section 151(i) would show that, the specified authority for the purpose of issuing notice under Section 148 within a period of three years from the end of the relevant assessment year is, the Principal Commissioner or Principal Director or Commissioner or Director. Further, in terms of provision of Section 149, three year time period is fixed for issuance of 148 notice, in the event of the amount is bel....