Dismissing the appeal of the revenue the Court held that issue of notice u/s.148 without recording reasons for same, it was not a mere case of clerical error, but substantial condition for valid issue of reopening notice had not been fulfilled and, such a defect could not be cured by invoking provisions of S. 292B of the Act. (AY. 2004-05)
PCIT v. Tata Sons Ltd. (2019) 267 Taxman 13 (Bom.)(HC),Editorial:PCIT v. Tata Sons Ltd. (2022)449 ITR 166 (SC), affirmed .
S. 148 : Reassessment–Notice–Issue of notice prior to recording of reasons for reopening of assessment is held to be without jurisdiction–Deserves to be quashed–Defects could not be cured by invoking S.292B of the Act. [S. 147, 292B ]