Axis Bank Limited vs Assistant Commissioner Of Income Tax ... on 20 April, 2023
2.1. It is the case of the petitioner that subsequently, the case
of the petitioner was selected for revision under Section 263 of
the Act by the higher authority of then assessing officer i.e.
Principal Commissioner of Income Tax and under Section 143(3)
read with Section 263 of the Act, the total income of the
petitioner was revised and determined as Rs.122,00,22,24,051/-.
The petitioner was then served with the notice under Section
148 of the Act on 26.03.2021 asking the petitioner to file return
of income of Assessment Year 2015-16. The petitioner without
prejudice to the stand that may be taken submitted return of
income in compliance of notice under Section 148 of the Act and
submitted return of income on 28.05.2021 and sought for
reasons recorded for re-opening of assessment. It is the case of
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C/SCA/19336/2021 CAV ORDER DATED: 20/04/2023
the petitioner that reasons dated 22.03.2021 were provided on
14.06.2021 vide E-mail. As a result of this, preliminary
objections vide communication dated 07.07.2021 were
submitted questioning the validity of notice under Section 148
of the Act. The respondent authority thereafter has disposed of
the objections on 09.11.2021 and simultaneously, on
09.11.2021, issued two notices calling upon the petitioner to
supply details in relation to the reassessment by 24.11.2021.
Since this is in clear conflict with the guidelines which are
prescribed by the decision of this Court, wherein a clear period
is prescribed to be given to the petitioner to challenge the
notice under Section 148 of the Act after the order disposing of
the objections are issued. The said decisions relied upon are in
the case of Doshion Ltd., v. I.T.O., reported in [2012] 342
ITR 6 (Gujarat) and in the case of Bharat Jayantilal Patel,
Mumbai v. Department of Income Tax reported in 378 ITR
596 (Bombay) and since this impugned notice is in clear
conflict with the guidelines and the re-opening under the
circumstances is not permissible, by way of present petition the
petitioner has assailed the impugned notice dated 26.03.2021
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C/SCA/19336/2021 CAV ORDER DATED: 20/04/2023
issued under Section 148 of the Act and simultaneously also
prayed for setting aside the order dated 09.11.2021 by
declaring it to be unsustainable.