2024 (4) TMI 1122 - SCH - Income Tax

Reopening of assessment - validity of order passed u/s 148A(d) - Second round of litigation - non independent application of AO's mind to the information furnished by the DDIT - As decided by HC 2023 (2) TMI 1119 - CALCUTTA HIGH COURT only conclusion that can be arrived at is to hold that the reopening of the assessment was bad as it was based on certain alleged potential cash borrowings and certain alleged possible financial transactions - AO did not independently apply its mind to the information furnished by the DDIT which he is required to do while exercising the power to reopen an assessment - entire reopening proceedings commencing from issuance of the notice u/s 148A(b) and culminating in the order u/s 148A(d) is a clear abuse of the process of law. HELD THAT - There is a gross delay of 399 days in filing this special leave petition. The explanation given for condonation of the delay is not satisfactory or sufficient in law to condone the same. Hence, the application seeking condonation of delay is dismissed. Special leave petition also stands dismissed.

Summary

The Supreme Court dismissed the special leave petition due to a gross delay of 399 days in filing, with the explanation for condonation of the delay deemed unsatisfactory. The application seeking condonation of delay was also dismissed, resulting in the dismissal of the special leave petition. Any pending applications were disposed of accordingly.