Question And Answer
Subject: Sec. 148, Reassessment , amalgamation , search
Querist: Prakash
Answered by:
Tags: ,
Date: May 14, 2023
Query asked by Prakash
  1. A Search and Seizure action was carried out on the residence of Mr. X  and his Group Company  premises.
  2. In pursuance of the said search, the Dept has issued notices u/s 148 for A.Y. 2013-14 onwards to various entities.
  3. In light of the same, Certain Notices are issued in the name of Y and Co  Private Limited’ which had merged with Z and Co  Limited; Writ Petitions against the same are filed in light of Maruti Sukuzi (SC) and Alok Knit Exports Pvt Ltd (Bom HC).
  4.  M/s. T  Private Limited is also been issued with a similar notice which is also converted to M/S. U LLP; Writ Petition is to be filed for the same.

The issue at hand is:

    1.   Whether Notices for A.Y. 2013-14 to A.Y. 2016-17 can be challenged on grounds of First Proviso to Section 149 r.w.s. Section 153A, considering the fact that the department has merely issued a one-pager notice without establishing the fact that income escaping assessment is 50 Lakhs or more. 
    2. Whether a Notice u/s 148 should be issued in the name of Resultant LLP or the Convertee Pvt Ltd Company for the year in which the conversion took place?

Pl guide .

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Answer given by

The writ petition is filed before the Bombay High Court and the High Court has given interim stay. The matter may come for hearing after vacation. It ay be desirable for the assessee to file writ petition before High Court.

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