TaxTMI 
TaxTMI 
2025 (6) TMI 1132
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....als) for the A.Y. 2016-17 is bad in law, illegal, in excess of and/or in want of jurisdiction and/or otherwise void. 2. On the facts and circumstances of the case and in law, the CIT(Appeals) has erred in directing the disallowance of TDS credit of Rs. 50 lakhs without appreciating facts of the case. 3. On the facts and circumstances of the case and in law, the CIT(Appeals) failed to consider the following legal grounds raised in the Grounds of Appeal. a) Reassessment proceedings u/s. 149(1)(b) can only be initiated if the information and material suggest that income chargeable to tax represented in the form of an ASSET which is amounting to or likely to amount to more than Rs. 50 lakhs has escaped assessment. The term ASSET has been ....
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....d circumstances of the case and in law, the CIT (Appeals) before enhancing the assessment failed to give a show cause notice as required under sub-section (2) of section 251 of the Income-tax Act and hence the Appellant was denied an opportunity of being heard." 2. Rival submissions of Learned Authorised Representative (ld. AR) of the assessee and learned Senior Departmental Representative (ld. Sr. DR) for the Revenue have been heard and record perused. The ld. AR of the assessee submits that apart from challenging the validity of addition, the assessee has challenged the validity of issuance of notice under section 148 and its approval under section 151 of Income Tax Act. The ld. AR of the assessee submits that case of assessee for assess....
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....Pr. CCIT. On her objection, the bench appraised her by the contents of notice under section 148 itself, which clearly bear the reference of approval of Pr. CIT-8, Mumbai, still she allowed to submit her response within three working days. 4. We have considered the rival submissions of both the parties and have gone through the orders of lower authorities. On careful perusal of assessment order, we find that case of assessee for AY 2016-17 was reopened under section 147, by issuing notice under section 148 dated 24.08.2022. On careful perusal of notice under section 148, we find that said notice was issued prior approval of PCIT-8. However, as per amended provision of section 151 substituted by Finance Act 2023, w.e.f. the assessing officer....