{"id":38673,"date":"2024-02-01T11:46:51","date_gmt":"2024-02-01T06:16:51","guid":{"rendered":"https:\/\/itatonline.org\/digest\/amrit-homes-p-ltd-v-dcit-2023-457-itr-334-294-taxman-661-mphc\/"},"modified":"2024-02-01T11:46:51","modified_gmt":"2024-02-01T06:16:51","slug":"amrit-homes-p-ltd-v-dcit-2023-457-itr-334-294-taxman-661-mphc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/amrit-homes-p-ltd-v-dcit-2023-457-itr-334-294-taxman-661-mphc\/","title":{"rendered":"Amrit Homes (P.) Ltd. v. DCIT (2023) 457 ITR 334 \/294 Taxman 661 (MP)(HC)"},"content":{"rendered":"<p>Dismissing the petition the Court held that, if show-cause notice under section 148A (b) ought to be loaded with concise and precise information revealing foundational material which persuaded AO to come to a tentative finding that certain income had escaped assessment for relevant year and assessee had also filed a detailed reply to said notice, it was to be held that impugned order under section 148A(d) and consequential notice under section 148 had been issued\/passed after following due process of law.\u00a0 Court also held that A taxing statute is to be interpreted literally. There is no intendment to taxing statute and nothing can be implied from or read into a taxing statute. The words used in taxing statutory provision are required to be given their plain meaning Assessee is directed to avail alterntaive remedy. \u00a0\u00a0The\u00a0 Court also observed that, it is settled in tax jurisprudence\u00a0 that taxing statute is to be interpreted literally. There is no <strong>i<\/strong>ntendment \u00a0to a\u00a0 taxing statute. Nothing\u00a0 can be implied from or read into a taxing statute.\u00a0 The\u00a0 words used in a taxing stautory\u00a0 provision\u00a0 are required to be\u00a0 given in their plain meaning.\u00a0 referred, Ajmera Housing Corporation v. CIT (2010) 326 ITR 624\/ (2010) 8SCC 739(para 6)\u00a0 Constitution Bench, Commissioner of Customs\u00a0 v. Dilip Kumar\u00a0 and Co. (2018) 9 SCC 1\u00a0 (para 24, 34), Dy. CIT v. Ace Multi Axes Systems Ltd\u00a0 (2018) 400 ITR 141 (Sc),(2018) 2 SCC 158,\u00a0 Check Mate Services\u00a0 Pvt Ltd\u00a0 v. CIT (2022) 448 ITR 518 (SC) \/(2023) 6 SCC 451, (Also refer\u00a0 CIT v. Kasturi and Sons Ltd (1999) 3 SCC 346, State of West Bengal v. Kersoram\u00a0 Industries Ltd\u00a0 (2004) 10 SCC 201).\u00a0 (AY 2016-17).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-No obligation to supply material or evidence on basis of  which opinion is formed  &#8211; Interpretation of  Taxing Statutes &#8211; Nothing can be read into or implied &#8211; Words to be given their plain meaning-A taxing statute is to be interpreted literally-There is no intendment to taxing statute and nothing can be implied from or read into a taxing statute. The words used in taxing statutory provision are required to be given their plain meaning-.Alternative remedy-Writ petition is dismissed.[S. 148, 148A(b), 148A(d), 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-38673","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-a3L","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38673","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=38673"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38673\/revisions"}],"predecessor-version":[{"id":38674,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38673\/revisions\/38674"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}