ITO Vs Specie Finance Pvt Ltd And Ors (Calcutta High Court)
In the case of ITO Vs Specie Finance Pvt Ltd And Ors, the Calcutta High Court reviewed an intra-Court appeal by the revenue challenging a previous order that quashed an assessment order under Section 148A(d) of the Income Tax Act, 1961. The challenge centered on the lack of approval from the specified authority as required under Section 151(ii). Although there was a significant delay of 325 days in filing the appeal, the court condoned the delay after reviewing the explanation provided. However, the Court found that the issue was similar to a prior case where the appeal was dismissed. The Court referred to its previous decision in MAT 1971 of 2023, which had ruled against the revenue on the same grounds. The decision emphasized that non-compliance with the specified authority’s approval requirements invalidates the assessment order. Consequently, the Calcutta High Court dismissed the appeal, affirming that the previous order correctly addressed the issue of non-compliance with statutory approval procedures.
FULL TEXT OF THE JUDGMENT/ORDER OF CALCUTTA HIGH COURT
The Court :- We have heard learned Advocates for the parties. This is an intra-Court appeal filed by the revenue challenging the order passed by the learned Single Bench in WPO 974 of 2023 dated 4.5.2023 by which the writ petition challenging the order passed by the appellant under section 148A(d) of the Income Tax Act, 1961 dated 28.7.2022 relating to the assessment year 2016-17 was quashed on the ground that the specified authority has not granted approval.
