2024 (11) TMI 1036 - SCH - Income Tax

Reopening of assessment u/s 147 - procedure prescribed for reassessment - intra Court appeal by the Revenue against the order of this Court - Non furnishing of reasons - Without passing the preliminary order, AO has passed the final assessment order - As decided by HC 2023 (1) TMI 1261 - KARNATAKA HIGH COURT after receipt of the letter A.O. has called the assessee for final hearing keeping in view the paucity of time. No explanation is forthcoming as to why the reasons were not furnished, though it is an admitted position that reasons were sought as back as in April 2018. The order sheet and assessment order clearly indicate that entire proceeding has been hurriedly completed between 18.12.2018 and 28.12.2018 in order to complete the same within the time limit i.e. 31.12.2018. This is an intra-court appeal. There is no patent error to interfere with the view taken by the Hon ble Single Judge more so, when a Division Bench of this Court following an authority of the Hon ble Supreme Court of India has held that provision is mandatory in nature. Decided against revenue. HELD THAT - There is a delay of 380 days in filing the Special Leave Petition which has not been satisfactorily explained. Even otherwise, we have gone through the Special Leave Petition and do not find any merit in the same. Special Leave Petition is, therefore, dismissed on the ground of delay as well as on merits.

Summary

The Supreme Court dismissed the Special Leave Petition due to a delay of 380 days, finding no merit in the petition. Pending applications were disposed of.