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HC quashed section 148 notice issued without sufficient reasons to initiate reassessment proceedings without satisfying conditions precedent under Section 147
Bombay High Court held that reopening of assessment in absence of failure on the part of the assessee to disclose fully and truly the material facts and also in absence of any tangible material is unjustifiable.
Revenue Department could only re-open an assessment beyond four years, if there was a failure on the part of assessee to disclose material facts fully and truly and not on the basis of reason to believe without satisfying jurisdictional condition required under provisions of Section 147
Bombay High Court held that AO failed to satisfy the direction given by the court while issuing notice under section 148 of the Income Tax Act. Accordingly, order for reopening of assessment and demanding penalty u/s 271(1)(c) are quashed and set aside.
If foundational allegation is missing in notice issued under Section 148A(b), the same cannot be incorporated by issuing a supplementary notice.
Dr. Mathew Cherian Vs ACIT (Madras High Court) Facts of the Case: 1. There was a survey in Kovai Medical Centre and Hospital (in short KMCH or hospital) by the officials of the Income Tax Department, on 11.2021. In the course of the survey, various documents were found and seized that, according to the respondents, […]
Non-supply of material referred to in reasons to believe would render reassessment proceedings bad, even though material for forming opinion may be sufficient
Revenue Department had neither sought any new information nor made a reference to new material on record. Held that, a change in opinion that does not satisfy the jurisdictional foundation under Section 147 of the IT Act.
Bombay High Court held that issue of reopening of assessment has to be tested only on the basis of the reasons recorded, which reasons can neither be improved upon nor substituted by an affidavit or oral submissions.
If there is no valid service of notice under section 148, the reassessment proceedings are null and void. service of notice under section 148 is a condition precedent for making reassessment or re-computation under section 147 of the Act.
