ACIT Vs Sangeeta Sailesh Bhoolabhai (Supreme Court of India)
Supreme Court of India has disposed of several tax-related Special Leave Petitions, referencing its earlier judgment in the case of “Union of India & Ors. vs. Rajeev Bansal.” The court stated that the present petitions are covered by the principles established in that ruling, and assessing officers are directed to address taxpayer objections accordingly. For cases pertaining to the Assessment Year 2016-2017, the court specifically applied its decision in “Siemens Financial Services Private Limited Vs. Deputy Commissioner of Income Tax & Ors.” This earlier judgment held that for this particular assessment year, sanction for reassessment should have been obtained under Section 151(ii) of the Income Tax Act, 1961, rather than Section 151(i). Consequently, in the matters before the court concerning AY 2016-2017 where incorrect sanction was obtained, the court found the sanction, and thus the subsequent notices and assessment orders, to be invalid. All such impugned notices and orders were quashed and set aside, along with any consequential actions. The court clarified that other legal grounds remain open for parties to pursue in separate proceedings.
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
1. Delay condoned.
2. These Special Leave Petitions are squarely covered by the Judgment of this Court rendered on 3-10-2024 in “Union of India & Ors. vs. Rajeev Bansal” (Civil Appeal No.8629/2024 etc.) 2024 (11) Scale 473.
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