TaxTMI 
TaxTMI 
2026 (7) TMI 483
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....of the Act dated 28.05.2023 was set aside and the matter was restored to the file of the Assessing Officer for making a fresh assessment. 2. The facts in brief as culled out from para 3 of the impugned order are as under: The assessee company filed its return of income for the year under consideration on 11.10.2016. As per the information on Insight Portal, assessee maintains a current account with Circular Road branch of Amritsar Zone. The account was opened on 23.07.2014. The account holder occupation is declared to be trader. The turnover in the account during the financial year 2015-16 was Rs. 941.65 lacs debit and Rs. 919.87 lacs credit of which the cash transactions were Rs. 63.50 lacs debit and Rs. 18.73 lacs credit. Duri....
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....tion of books of accounts." 3. Aggrieved by the impugned order, the assessee filed appeal before us and has raised the following grounds of appeal: "1. That the CIT(A) has erred in remanding back the matter to the AO without adjudicating the legal grounds of appeal. 2. That the CIT(A) has erred in not appreciating that the reasons recorded are bad in law, since, information is In respect of fraudulent export while the assessee was not involved in any export activities and as such, there is wrong assumption of facts. 3. That the CIT(A) has erred in not appreciating that the reasons recorded are bad in law in view of the fact that the reasons state about an enquiry having been received from Directorate of Revenue....
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....hat the appellant craves leave to add, amend and alter the grounds of appeal." 4. We have heard the ld. AR and the ld. DR. At the very outset, the ld. AR submitted that the ld. CIT(A) vide impugned order dated 17.09.2025 has not decided the legal issue raised in grounds as per Form 35 wherein the assessee has raised the ground that proceeding initiated u/s. 148 vide notice dated 01.06.2021 were bad in law since the approval obtained u/s. 151 was bad in law and the subsequent notice u/s. 148 on 11.07.2022 was also bad in law. It is further argued that the approval was required to be obtained from PCCIT whereas the approval for issuing notice u/s. 148 dated 11.07.2022 was obtained from PCIT-1, Delhi as placed at page 24 of the paper book w....
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....idly complying with section 151 of the Act which is not in accordance with law and thus invalid, in view of the Hon'ble Apex Court decision in the case of Rajeev Bansal (supra) wherein it has been laid down as under: "73. Section 151 imposes a check upon the power of the Revenue to reopen assessments. The provision imposes a responsibility on the Revenue to ensure that it obtains the sanction of the specified authority before issuing a notice under section 148. The purpose behind this procedural check is to save the assesses from harassment resulting from the mechanical reopening of assessments Sri krishna (P.) Ltd. v. ITO [1996] 87 Taxmann 315/221 ITR 538 (SC) /[1996] 9 SCC 534. A table representing the prescription under the ....
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....r years but within six years after obtaining the approval of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner. 75. After 1 April 2021, the new regime has specified different authorities for granting sanctions under section 151. The new regime is beneficial to the assessee because it specifies a higher level of authority for the grant of sanctions in comparison to the old regime. Therefore, in terms of Ashish Agarwal (supra), after 1 April 2021, the prior approval must be obtained from the appropriate authorities specified under section 151 of the new regime. The effect of Section 151 of the new regime is thus: (i) If income escaping assessment is less than Rupees fifty lakhs:....