Dismissing the petition the Court held that\u00a0 the\u00a0 assessee had made out a baseless and frivolous case that the initial notice under section 148A(b), the order under section 148A(d) and the consequent notice under section 148 related to three assessment years 2016-17, 2017-18 and 2018-19 which was contrary to record.\u00a0 The initial notice under section 148A(b) it had been clearly described that the notice had been issued relating to the financial year 2015-16 relevant to the assess-ment year 2016-17. In the annexure to the notice under section 148A(b) incidentally the Assessing Officer might have recorded some transactions relating to some other financial years, but, considering the annexure as a whole, the initial notice under section 148A(b) had been issued for the assessment year 2016-17 only.Accordingly the initial notice under section 148A(b), the order under section 148A(d) and the notice under section 148 were valid.(AY.\u00a0 2016-17)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice mentioning for which the notice issued-Transactions recorded of other financial year-Notice valid.[S. 147, 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-52908","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dLm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52908","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=52908"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52908\/revisions"}],"predecessor-version":[{"id":52909,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52908\/revisions\/52909"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}