2025 (10) TMI 1306

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.... 144 of the Income-tax Act, 1961, (in short 'the Act'). 2. The assessee has raised the following grounds in appeal: 1. That the appellant denies the liability to be assessed at the total income of Rs. 3,19,26,300/- and accordingly denies the liability to pay tax and interest demand thereon. 2. That having regard to the fact and circumstances of the case Ld. CIT(A) has erred in law and on facts in assessing jurisdiction to issue notice u/s 148 of the Income Tax Act, 1961 (the Act) and to frame assessment u/s 147 of the Act without observing the statutory conditions as mentioned in the Section 147 to 151 of the Act. 3. That having regard to the fact and circumstances of the case Ld. CIT(A) has erred in law and on....

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....f the case are that the assessee is a private Ltd. Company and did not filed the return of Income for the A.Y. 2017-18. The assessing Officer received information through ITBA that the assessee purchased time deposit for Rs. 3,10,00,000/- received Rs. 73,390/- as contract receipt and also received interest of Rs. 8,52,909/-. In the fact of the above proceedings u/s 148 of the Act was initiated by the Assessing Officer and notice u/s 148 A(b) of the Act was issued to the assessee on 01-06-2022 by giving the 14 days, time to file the objection. The assessee did not file any response, even various notices issued u/s 142(1) and u/s 144 were issued but assessee failed to file any objection. The Assessing Officer completed the assessment after ma....

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....5. In the case of Dalpat Baraiya vs Income Tax officer Ward -3(3)(1) the Co-ordinate bench held that where three years had expired from the end of the Assessment year 2018-19, sanctioning authority u/s 151(ii) of the Act should have been Principal Chief Commissioner and not Principal Commissioner, thus order under section 148A(d) and notice under section 148 issued on basis of approval granted by Principal Commissioner were to be quashed and set aside. 6. The Ld. Sr. DR has relied the order of the lower authorities and submitted that the notice/ order was issued as per the directions of the Hon'ble Supreme Court in the case of Ashish Agarwal [2022] 444 ITR 1 SC. In the present case the notice was issued on 21-07-2022 for the A.Y. 2017-18....