2024 (12) TMI 394 - SCH - Income Tax

Reopening of assessment u/s 147 - Validity of order passed u/s 148A (d) - High Court 2022 (8) TMI 1313 - PUNJAB HARYANA HIGH COURT rejected the writ application filed by the appellant herein (assessee) and thereby affirmed the order passed by the Revenue u/s 148A (d) - HELD THAT - Revenue with his usual fairness submitted that the impugned order be set aside for the reason that the Authority has quoted incorrect provisions therein. Ordinarily, if the final conclusion arrived at in any order is correct then irrespective of the fact whether the provisions are correctly relied upon or not may not affect the final result. However, in the case on hand, the revenue itself wants that the impugned order be set aside with liberty to issue a fresh notice under Section 148A (b) of the Income Tax Act. In view of the aforesaid, the impugned order passed by the High Court is set aside. It shall be open for the Revenue to issue a fresh notice to the appellant (assessee) under Section 148A (b) of the Act in accordance with law.

Summary

The Supreme Court granted leave in an appeal against the High Court's order, which upheld the Revenue's decision under Section 148A(d) of the Income Tax Act. The Revenue requested to set aside the order due to incorrect provisions cited, and the Court allowed it, permitting the Revenue to issue a fresh notice under Section 148A(b) to the appellant. The appeal was disposed of accordingly.