Case Law Details
Anilaben Rohitbhai Modi Vs ITO (High Court Gujarat)
Gujarat High Court held that in absence of adequacy of reasons and its relevancy thereof, initiation of reassessment proceedings under section 148 of the Income Tax Act is erroneous and hence liable to be set aside.
Facts- The petitioner is an individual and citizen of India and was holding a parcels of land with other co-owners. The said parcels of land along with many others were required for public purposes and as such a notification was issued in the Extra Ordinary Gazette dated 07.10.2013 to acquire the same portion of lands which are narrated in the notification. The petitioner along with other co-owners received 75% of the consideration against the acquisition of three land parcels.
It is the case of the petitioner that petitioner has filed her original return of income claiming exemption on income from compulsory acquisition of land totalling around Rs.2,74,83,074/-. Post scrutiny, the respondent authority passed an assessment order u/s 143(3) assessing income according to the return submitted by the petitioner.
Thereafter, notice u/s 148 was issued to the petitioner. The petitioner preferred the present petition under Article 226 of the Constitution of India for challenging the validity of action in the form of impugned notice issued u/s. 148 of the Income Tax Act as well as challenging the order disposing objections dated 27.01.2022 by raising multiple contentions.
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