Case Law Details
River Valley Meadows and Township (P) Limited Vs. DCIT (Bombay High Court)
Bombay High Court quashed reassessment proceedings where reason approved one day after issue of notice u/s 148
In the present case, notice under Section 148 of the Income Tax Act, 1961 was issued for the A.Y. 2015-16 by the Jurisdictional assessing officer on 25/06/2019. Assessee obtained a copy of reason to believe, wherein it was found that approval by competent authority (Addl. CIT in this case) was taken on 26/06/2019, whereas aforesaid notice was issued “one day before” on 25/06/2019.
A writ challenging the notice dated 25/06/2019 was moved by the assessee before the Bombay High Court.
Counsel for the revenue argued that two separate approval were taken one date 25/06/2019 and the second dated 26/06/2019 as per the records of the assessing officer.
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