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MA Multi -Infra Development Pvt Ltd v .ACIT ( 2023) BCAJ – March -P. 49 ( Bom)( HC)

S. 148 : Reassessment –Notice – After the expiry of four years –
Time limit for notice – Sanction for issue of notice – Approval was obtained from Additional Commissioner of Income -tax Instead of Principal Chief Commissioner of Income tax – Order is bad in law and quashed . [ S. 147, 149(b) 151(1)(ii) , Taxation and other laws ( Relaxation and Amendment of certain Provisions ) Act , 2020, Art , 226 ]

For the assessment year 2015 -16 the notice under section 148 dated 31 St March  2021  was issued after obtaining the satisfaction of the Additional Commissioner of Income -tax . The  assessee filed writ petition  on the ground that since the notice was issued beyond the period of four years  approval for issuance of the same ought to have been obtained from the Principal Chief Commissioner of Income -tax in terms of section 151 (ii) of the Act .  High Court allowed the petition and quashed the notice issued under section 148 of the Act . Followed  J.M. Financial & Investment Consultancy Servoces (P ) Ltd  v. ACIT ( Bom)( HC)  ( WP No. 1650 of 2022 dt. 9 – 1-2023 )( AY. 2015 -16 )