The assessee is in the business of jewellery and bullion trade where as in the reasons recorded it is alleged that the assessee has failed to disclose truly and fully all material facts\u00a0 relevant to \u201csalary\u201d of which income chargeable to tax had escaped assessment.\u00a0 On writ allowing the petition, the Court held that\u00a0\u00a0 the notice having been issued after the expiry of four years from the end of the relevant AY, satisfaction of the Commissioner based on the reasons recorded by the Assessing Officer that it was a fit case for issue of notice under section\u00a0148\u00a0was mandatory. Sanction of the Commissioner as prescribed under section\u00a0151\u00a0had not been obtained satisfactorily before issuance of notice under section\u00a0148. The contradictions or errors in the reasons recorded were not typographical errors. The Assessing Officer had not applied his mind after drafting the reasons or before forwarding them to the Commissioner for consideration. If the Commissioner had read the reasons he would have noted the errors or contradictions. Satisfaction had been endorsed mechanically without even reading the reasons. Therefore, the notice issued under section\u00a0148\u00a0was quashed and set aside. (AY.\u00a0 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 151 : Reassessment-Sanction for issue of notice-After the expiry of four years-Commissioner has to apply his mind and cannot pass order mechanically-Notice quashed and set aside. [S. 147, 148, Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28548","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7qs","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28548"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28548\/revisions"}],"predecessor-version":[{"id":28549,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28548\/revisions\/28549"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}