Question And Answer
Subject: 148A, Revision
Querist: bs
Answered by:
Tags: , ,
Date: January 13, 2023
Query asked by bs

Can AO issue notice i/s 148A when notice u/s 263 is pending on same point ?

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The Hon’ble ITAT in the case of Krish Homes Private Limited v. ITO (ITA No. 237/JP/2019, CO: 16/JP/ 2019 23/12/2019) (Jaipur)(Trib). held that if the Assessing Officer has incorrectly or erroneously applied law and income chargeable to tax has escaped assessment, the Revenue should resort to section 263 of the Act and revise the assessment and not reopen under section 147 of the Act.

Therefore, where revisionary proceedings are pending and it is the view of the Department that the Ld. AO has incorrectly or erroneously applied the law, reassessment proceedings would be bad in law.

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