Allowing the petition the Court held that after issuance of notice under section 148A(b) objections were filed by the assessee which were dismissed. A notice under section 148 for reopening the assessment under section 147 was issued wherein no reference was made to the third proviso to section 12A. Registration of the assessee was granted and was applicable from the assessment year 2016-17. The registration was valid for claiming the benefit under sections 11 and 12. No proceedings under section 147 could be initiated for the assessment year 2015-16. Hence, the show-cause notice under section 148A(b), the consequent order under section 148A(d) and the notice under section 147 being contrary to the third proviso to section 12A(2) the order and notice is set aside.(AY.2015-16)
Prem Chand Markanda Sd College For Women v. ACIT (E) (2023)455 ITR 329/(2023) 334 CTR 582 (P&H)(HC)/Editorial: SLP of Revenue dismissed , Asst. CIT (E) v. Prem Chand Markanda Sd College For Women (2024)460 ITR 495 /297 Taxman 64 (SC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Charitable purpose-Registration-Reassessment proceedings for earlier years cannot be initiated on ground of non-registration. [S.11, 12 12A(2), 147, 148, 148A(b), Art. 226]