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Where original assessment order was subjected to revision under section 263, interest under section 234B would be charged till completion of assessment under section 143(3) read with section 263.
The Petitioner seeks the quashing of a notice dated 20th March, 2015 issued under Section 148 of the Income Tax Act (Act) by the Assistant Commissioner of Income Tax (hereinafter Assessing Officer AO) and the order dated 1st February, 2016 passed by the AO disposing of the objections filed by the Petitioner to the said notice.
Where notice was not issued by assessing officer under section 143(2) before passing order under section 143(3) read with section 147, assessment made by him was bad in law. Provisions of section 292BB are not applicable where there is failure to issue notice under section 143(2).
Where reassessment proceedings were initiated on the directions from JCIT or CIT and AO had not carried out any independent exercise to examine fresh material to come to a conclusion that the assessment warrants reopening on account of escapement of income, the reassessment was bad in law.
This writ petition by Yum! Restaurants Asia PTE Ltd. under Articles 226 and 227 of the Constitution, seeks the quashing of a notice dated 28th March 2012 issued by the Deputy Director of Income Tax (hereinafter the Assessing Officer or AO) under Section 148 of the Income Tax Act, 1961 (hereinafter the Act) seeking to reopen the assessment for Assessment Year (AY) 2005-06.
Where CIT (A) had annulled original scrutiny assessment concluded under section 143(3) on the legal ground that notice issued under section 143(2) was time-barred, then revenue was precluded to adopt recourse of reassessment under section 147 to correct the mistake committed originally in not issuing notice under section 143(2) in time.
Where AO reopened the assessment, based on statements recorded and material impounded during survey, however, without establishing any whisper from the reasons recorded regarding the escapement of any income, such reassessment based on suspicion and surmises was set aside.
The assessing officer issued notice under section 148 for reassessment, during the pendency of assessment proceedings by issue of notice under section 148 which is bad in law and cannot be sustained
This is yet another case in the ever increasing number of cases filed before this Court challenging the issuance of notice under Section 148 of the Income Tax Act, 1961 (hereinafter referred to as the Act).
Proceedings under Section 148 of the Act which commenced with the notice dated 3rd April, 2012 issued to VBPPL were itself void ab initio for the simple reason that on that day VBPPL was not in existence as a result of the order dated 20th February, 2013 of the High Court approving its amalgamation with the Petitioner with effect from 1st April, 2012. The question of revival of such proceedings at a later point in time, with there being no change to the legal position regarding VBPPL having ceased to exist, does not arise.
