Allowing the petition the Court held that the approval that has been provided to assessee and copy whereof has been annexed to the petition is dt. 26th March, 2013 and has been received by Asstt. CIT on 28th March, 2013, whereas the reasons for reopening itself is dt. 28th March, 2013. The Asstt. CIT did not annex any document to indicate that reasons were recorded on 25th March, 2013, nor has he explained as to how the reasons provided to assessee show the date 28th March, 2013. Therefore, the explanation given in affidavit in reply is rejected and it is held that sanction was not properly obtained. On this ground alone the notice has to be quashed and set aside. Court also observed that the reasons recorded do not indicate any non disclosure of material facts. Reassessment notice was quashed. Followed Dell India (P) Ltd v. JCIT (2021) 432 ITR 212 (FB) (Karn)(HC) (AY. 2006-07)
Wyeth Ltd. v. ACIT (2022) 211 DTR 393/ 329 CTR 803 (Bom.)(HC)
S. 151 : Reassessment-Sanction for issue of notice-After the expiry of four years-Approval and reasons recorded of same date-Sanction was not properly obtained-Reassessment notice was quashed. [S. 147, 148, Art. 226]