2023 (5) TMI 640 - SCH - Income Tax

Reopening of assessment - Validity of approval granted by the CIT u/s 151 - earlier Revision u/s 263 dropped - Subsequently Reopening of assessment u/s 147 initiated - HC held to grant or not to grant approval under Section 151 of the said Act to re-open an assessment is coupled with a duty and the Commissioner was duty bound to apply his mind to the proposal put up to him for approval in the light of the material relied upon by the AO. Such power cannot be exercised casually, in a routine and perfunctory manner. We have to observe that if only the PCIT had read the file, he would not have been satisfied with the reasons. Petition allowed - HELD THAT - We are not inclined to interfere with the judgment and order impugned in this petition. SLP dismissed.

Summary

Title: Supreme Court dismisses special leave petition

- Court: Supreme Court of India
- Citation: 2023 (5) TMI 640 - SC Order
- Judges: Hon'ble Mr. Justice Krishna Murari and Hon'ble Mr. Justice V. Ramasubramanian
- Petitioner's Counsel: Mr. Balbir Singh, Mr. Manish Pushkarna, Mr. Naman Tandon, Mr. Rupinder Sinhmar, and Mr. Raj Bahadur Yadav
- Decision: Special leave petition dismissed, no interference with impugned judgment and order
- Delay condoned; pending applications disposed of