TaxTMI 
TaxTMI 
2026 (6) TMI 739
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....s writ petition, the petitioner has challenged the impugned Order dated 02.05.2022 passed under Section 148A(d) and the impugned Notice dated 02.05.2022 issued Section 148 of the Income Tax Act, 1961. 2. The respondent has reopened the assessment for the Assessment Year 2015-16, pursuant to Section 148A(b) Notice dated 31.03.2022. 3. The Operative portion of the impugned Order dated 02.05.2022 reads as follows: "4. The assessee's contention was considered carefully and disposed of as under; 4.1 LIMITATION 4.1.1 This case has been selected / flagged in the Insight Portal of the Department in accordance with the Risk Management Strategy formulated by the CBDT under clause (i) to explanation (1) to section ....
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....e revenue to reopen the case as income chargeable to tax represented in the form of asset is not available cannot be accepted. 4.3 CHANGES IN THE FINANCE BILL 4.3.1 It may be noted here that the notice u/s 148A(b) was issued on 31.03.2022 in conformity with the provisions of the Finance Bill 2021 as on 01.04.2021 and not the bill introduced on 01.04.2022. The provisions introduced in the Finance Act 2022 would be applicable only to the cases that are to be reopened after 01.04.2022 and not the ones reopened before that date. 4.4 NOTICE ISSUED ON AN ADJUDICATED ISSUE 4.4.1 It is stated that the new provisions of section 148 has been introduced w.e.f 01.04.2021 which has done away with the concept ....
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....oviso was inserted with a view to prevent the AO from reopening of assessments going back to 10 A. Y's before A. Y 2021-22 in accordance with section 149(1)(b). It means that only reopening is valid for A.Y's before A.Y 2021-22 up to six years as per the old provisions and reopening of assessments back by 10 years is possible starting from A.Y 2021-22 onwards. This is no way prevents the AO from reopening an assessment for A.Y 2015-16 which is clearly with in the 6-year period in this case. 5. The contentions of the assessee, on the merits of the case was carefully considered and found not acceptable. The assessee has merely stated the facts and has not substantiated it with any evidence. 6. Hence, on the basis of ....
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....ply on 25.04.2022, setting out the factual background and objecting to the reopening of the Assessment that was completed earlier. However, the respondent proceeded to pass the impugned order dated 02.05.2022 under Section 148A(d) of the Income Tax Act, 1961. 7. The Learned Senior Counsel for the petitioner submits that the impugned proceedings are without jurisdiction and liable to be interfered. It is submitted that the reopening is based entirely on audit objections, which had already been responded to by the petitioner on 11.02.2019 and that there are no new tangible materials available with the respondent to justify the reopening of the assessment. 8. The Learned Senior Counsel further contended that the issue had already been ex....
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....ation under the old regime has already expired. Under the old regime, proceedings under Section 148 could be initiated either within 4 years or 6 years. Since the amount involved exceeded the pecuniary limit of Rs. 1 lakh, notices under Section 148 could have been issued within 6 years from the end of the relevant assessment year. 14. The amount that has escaped assessment as per the notice is Rs. 2,85,26,271, which, according to the department, was not included in the income in the return filed by the petitioner on 19.09.2015. Thus, this amount was not the subject matter of the assessment that was earlier completed under Section 143(3) of the Income Tax Act, 1961, on 20.03.2017. Therefore, the respondents were justified in invoking the ....
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.... include certain amounts received as income in the return filed on 19.09.2015. 19. The aforesaid assessment order dated 20.03.2017 reads as under: "The assessee is registered under Section 12AA of the I.T. Act vide DIT, Chennai proceedings in C.No.1146-III(106)/84 dated 03/07/1985 and also approval u/s 10(23C)/08-09 vide DIT, Chennai proceedings in CCIT-III/45/10(23C)/08-09 dated 15/12/2008. 2. The assessee trust filed its return of income for the asst. year 2015-16 on 19/09/2015 admitting NIL income and gross receipts of Rs. 154,96,03,897/-. The case was taken up for scrutiny as per Board's guidelines and notice u/s 143(2) of the Income Tax Act, 1961 dated 22/08/2016 was duly served. 3. In response to the abov....