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Facts
The assessee's case for AY 2016-17 was reopened due to alleged bogus purchases. A notice under Section 148 was issued on July 29, 2022, after obtaining approval from the Principal Commissioner of Income Tax (PCIT). The Assessing Officer made additions for bogus purchases and commission, which were upheld by the CIT(A).
Held
The Tribunal condoned the delay in filing the appeal, citing substantial justice. It then ruled that the reassessment proceedings were invalid because the approval for the Section 148 notice, issued more than three years after the relevant assessment year, was granted by the PCIT instead of the Principal Chief Commissioner or Chief Commissioner as mandated by Section 151(ii) of the Act.
Key Issues
The key legal issues were the condonation of delay in filing the appeal and the validity of the reassessment proceedings due to improper sanctioning authority for the Section 148 notice.
Sections Cited
Section 148, Section 148A(d), Section 151(ii), Section 69C, Section 147
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Income Tax Appellate Tribunal, RAIPUR BENCH, RAIPUR
Before: SHRI R. K. PANDA & SHRI PARTHA SARATHI CHAUDHURY
आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to:
1. 1. अपील र्थी / The Appellant; प्रत्यर्थी / The Respondent 2.