2022 (5) TMI 1483 - HC - Income Tax

Validity of assessment u/s 153C or 148 - submission of the petitioner is that Section 153-C supersedes the application of provisions of Section 148 and thus, the action if any, which could be initiated by the Assessing Officer is to be only under Section 153-C in view of the fact that the material relied upon by the Assessing Officer is out of the information alleged to have been received under assessment order of searched persons, the matter requires consideration - HELD THAT - The respondents are at liberty to file affidavit-in-reply on or before 10.6.2022 and copy thereof be served on the learned Counsel appearing for the petitioner. Simultaneously, re-joinder if any, be filed within one week thereafter. Place the matter on board for admission on 22.6.2022.Till 24.6.2022, the respondents shall not proceed with the impugned notice under Section 148 of the Income Tax Act against the petitioner.

Summary

The petitioner challenged a notice issued under Section 148 of the Income Tax Act for assessment year 2013-14, arguing that Section 153-C should apply instead. The Bombay High Court directed the respondents to file a reply by 10.6.2022 and scheduled the matter for admission on 22.6.2022. The respondents were restrained from proceeding with the notice until 24.6.2022.