Approval to issue Section 148 notice has to be given by JCIT & not by PCIT

Miranda Tools Pvt. Ltd. Vs ITO (Bombay High Court)

The Petitioner is a company registered under the Companies Act engaged in the business of manufacture and marketing of fabrics. The Petitioner filed its return of income for the assessment year 2014-15 on 22 September 2014 declaring nil income. The Petitioner’s case was selected for scrutiny assessment vide notice dated 18 September 2015. On 7 April 2016, the Assessing Officer issued notice under section 142(1) of the Income Tax Act, 1961 calling upon the Petitioner to sub

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