9911796707
TMI Blog2023 (7) TMI 1523X X X X Extracts X X X X X X X X Extracts X X X X ..... proval from the "Specified Authority" as described under Section 151(ii) of the Income Tax Act, 1961 by contending that the approval has been taken from the Principal Commissioner of Income Tax when admittedly the specified authority for approval in this case is Principal Chief CIT since three years has not been passed from the end of the relevant assessment year on the date when the aforesaid impugned order was passed as alleged by the petitioner. Mrs. Das De, learned advocate appearing for the respondent Income Tax Authority has brought to the notice of the Court the recent amendment under Section 151 of the Income Tax Act, 1961 which is relevant and is quoted as hereunder : "151. Specified authority for the purposes of section 148 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b-section shall be deemed to be extended accordingly. Explanation.- For the purposes of clause (b) of this sub-section "asset" shall include immovable property, being land or building or both, shares or securities, loans and advances, deposits in bank account." On a plain reading of the fifth proviso under Section 149(1) it appears that for the purposes of computing the period of limitation for passing order under Section 148A of the Act, the time or extended time allowed to the assessee, as per show-cause notice under clause (b) of section 148A or the period during which the proceeding under section 148A is stayed by an order or injunction of any court, shall be excluded. It also appears on a plain reading of the sixth proviso under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the aforesaid fifth and sixth proviso to Section 149(1) of the Act, the impugned order under Section 148A(d) of the Act by excluding the time granted to the petitioner to file response to the notice under Section 148A(b) of the Act and a further period of seven days are excluded from the date of expiry of normal period of three years for the purpose of assessment, the impugned order passed under Section 148A(d) of the Act is very much within three years in this case and as such for passing the aforesaid impugned order Principal CIT and not the Principal Chief CIT is "Specified Authority" for approval of the same. In view of the aforesaid factual and legal position "Specified Authority" for the purpose of approval in this case is Prin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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