Chandra Shekhar Vs PCIT (Patna High Court)
Patna High Court held that reassessment proceedings under section 148A(b) of the Income Tax Act is justifiable since proceedings initiated within a three year period as per section 149(1) of the Income Tax Act.
Facts- Petitioner is income tax assessee for the assessment year 2020-21. Notice was issued to the petitioner on 28.03.2024 u/s. 148 A (Clause b) of the Income Tax Act, 1961. Petitioner had submitted reply on 31.03.2024. Pursuant to the petitioner’s reply yet another notice was issued on 22.04.2024 to the petitioner and he had submitted reply on 25.04.2024. Consequently, proceedings under Section 148A (d) of the Act was issued on 30th April, 2024. Thus, being aggrieved, the present petition is filed.
Conclusion- Held that Combined reading of 5th and 6th Proviso, it is crystal clear that delay is required to be taken note of with reference to notice. In the present case notice means first notice issued on 28.03.2024 and it is within the time-limit stipulated and Assessing Officer has jurisdiction. In view of these facts and circumstances, the present writ petition is pre-mature. Accordingly, the present writ petition stands disposed of reserving liberty to the petitioner to participate in the process undertaken by the Revenue in the light of impugned order and notice and co-operate.
