TaxTMI 
TaxTMI 
2026 (8) TMI 136
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....961 (for short 'the Act of 1961') (Annexure-2) and sanction note dated 18.03.2026 (Annexure-3) on the ground that the reassessment proceedings are without jurisdiction and have been initiated in defiance of the applicable provisions of the Act of 1961. 2. Perusal of the record reveals that the reassessment notice dated 19.03.2026 was issued to the assessee, the basis of which was the information received under the scheme notified under Section 135A of the Act of 1961 regarding an alleged mismatch in the interest income of the petitioner. 3. The case of the petitioner is that she filed her income tax return for the assessment year 2022-23 declaring her total income under different heads. While processing the return under Section 143(1)....
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....mismatch of interest income. 7. Learned counsel further submits that an appeal has already been filed by the petitioner on the very same issue which is pending consideration before the appellate authority and the initiation of the reassessment proceedings on the same issue based on identical facts amounts to parallel proceedings by the respondent - Authorities. An objection/representation dated 13.04.2026 in this regard was also submitted by the petitioner pointing out that the issue of mismatch of income is already pending consideration before the Commissioner (Appeals), NFAC, in the statutory appeal filed by the petitioner and thus, the issuance of the impugned notice under Section 148 of the Act of 1961 and the consequent initiatio....
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....tified under Section 135A of the Act of 1961 and upon obtaining the requisite approval from the authority specified under Section 151 of the Act of 1961. It is submitted that the validity or correctness of such information cannot be examined in writ jurisdiction at this preliminary stage. 11. Learned counsel also submits that the pendency of the appeal before the Commissioner (Appeals), NFAC, does not preclude the Assessing Officer from initiating reassessment proceedings under Section 148 of the Act of 1961, where there exists information suggesting escapement of income. It is submitted that the proceedings arising out of the intimation issued under Section 143(1) of the Act of 1961 and the reassessment proceedings initiated under Secti....
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....the Act of 1961. 15. Whether such information ultimately results into an addition or not is a matter to be examined by the Assessing Officer during the reassessment proceedings and, if necessary, by the statutory appellate authorities thereafter. At this stage, no case of inherent lack of jurisdiction is made out warranting interference under Article 226 of the Constitution. 16. The further contention of the petitioner that the reassessment proceedings are contrary to the Scheme notified under Section 135A also does not merit acceptance at this stage. Such issue pertains to the merits of the reassessment and are matters which can appropriately be urged before the Assessing Officer in the course of reassessment proceedings and thereaft....