DINESH MEHTA HUF,KOLKATA vs. ITO, WARD 30(1), , KOLKATA

It was submission that the notice has been issued beyond 03 years. It was also the submission the quantum in the for reopening was more than Rs.50,00,000/-, more specifically Rs.66,89,500/-. It was submission that the approval for the issuance of notice u/s.148 of the Act beyond 3 years and the amount is above 50,00,000/- which should be granted by PCCIT. It was submission that approval has been obtained from the PCIT, Kolkata-9. It was submission that the approval is wrong and consequently, the notice issued 148 of the Act is also bad in law. 4 4. In reply, Ld.Sr. DR submitted that the principle of TOLA would apply and the law here in which assessment related the has to be applied. He vehemently supported the orders of the AO and CIT(A). 5. We have considered the rival submissions. A perusal of the facts in the present case clearly shows that the law as on the date for issuance of notice has been repeatedly held by various Hon’ble High Courts and the Hon’ble Apex Court. The perusal of the facts also clearly shows that the reopening has been done for bringing to tax to the extent of Rs.66,89,500/- by denying the assessee the deduction u/s.10(38) of the Act. The notice also been issued on 27/02/2022 as a consequence of an order u/s. 148A(d) of the Act dated 22/07/2022. The notice has been issued beyond the period of 3 years also from the end of the impugned assessment year. As it is noticed that the approval is to be granted in such cases by the PCCIT but the approval has been granted by the PCIT. Therefore, the approval granted is held to be invalid and the notice u/s.148 of the Act stands quashed. Consequently, the assessment order passed as consequence of the invalid notice issued 148 of the Act also stands quashed. 6. In the result, appeal of the assessee stands allowed. Order dictated and pronounced in the open court on 09/12/2025. (RAJESH KUMAR) (GEORGE MATHAN) लेखा सदस्य/ ACCOUNTANT MEMBER न्यधनयक सदस्य / JUDICIAL MEMBER कोलकाता Kolkata; ददनाांक Dated 09/12/2025 Prakash Kumar Mishra, Sr.P.S. 5 आदेश की प्रनतललपप अग्रेपर्त/Copy of the Order forwarded to :