9911796707
TMI Blog2023 (6) TMI 134X X X X Extracts X X X X X X X X Extracts X X X X ..... s 148A had to be applied to the petitioner, which is why notices were issued u/s 148A(b) of the Act. What emerges from the record is that, clearly, two notices were issued u/s148A(b) i.e., notice dated 28.03.2023 and 29.03.2023. What has also emerged is that the entire survey report was not submitted to the petitioner, since Mr Agarwal, during the course of his submissions, has said that the relied-upon portion of survey report was provided to the petitioner. Also submitted that information came to the fore only on 07.09.2022, when the survey was conducted, i.e., after the Finance Act 2022 kicked in. Petitioner submits that the expenditure was incurred prior to 01.04.2022, and therefore, the unamended provisions would apply and consequently ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed senior counsel, who appears on behalf of the petitioner, submits that the reassessment proceeding has been triggered pursuant to a survey carried out against the petitioner. 4.1 It is, therefore, contended that the respondents/revenue were dutybound to furnish to the petitioner the entire survey report, as it forms the basis for triggering the reassessment proceeding. 4.2 It is, thus, the submission of Mr Datar that there has been a breach of principles of natural justice, inasmuch as the survey report, in its entirety, has not been furnished to the petitioner. 5. Furthermore, Mr Datar has drawn our attention to the order dated 19.04.2023 passed under Section 148A(d) of the Act, in support of his plea that the reassessment proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich are not as per objects of Trust is duly covered in the definition of Section- 149(1 )(b)(ii) of the IT Act, 1961 i.e. expenditure in respect of transaction or 149(1)(b)(iii) i.e an entry in the books of account. …" 5.2 Mr Datar says that the time limit for issuance of notice under Section 148, as stipulated under Section 149 of the Act, underwent an amendment by virtue of Finance Act 2022. In this context, the following part of the amended Section 149 is adverted to by Mr Datar: "149. Time Limit for Notice (1) No notice under section 148 shall be issued for the relevant assessment year,- (a) … (b) if three years, but not more than ten years, have elapsed from the end of the relevant assessment year unless the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding was triggered qua the petitioner on account of a survey action, provisions of clause(ii) of Explanation 2 of Section 148 of the Act, would be applicable. 6.1 In other words, Mr Agarwal says that the information which emerged post the survey would be deemed to be considered as information, suggesting that income chargeable to tax has escaped assessment. 6.2 It is also Mr Agarwal's submission that since clause(a) to the first proviso appended to Section 148A of the Act does not refer to "survey", the regime provided under Section 148A had to be applied to the petitioner, which is why notices were issued under Section 148A(b) of the Act. 7. What emerges from the record is that, clearly, two notices were issued under Section 148A(b) of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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