- (1.) In this writ application, the Petitioner has, inter alia, challenged a notice dated 1st November, 2006 issued by the Respondent No. 1 under Section 148 of the Income Tax Act, 1961, for the Assessment Year 1997-98, on inter alia the ground that the impugned notice was time barred.
(2.) The Petitioner filed its return of income for the Assessment Year 1997-98 on or about 16th February, 2000 showing its taxable income as 'Nil'. In the meanwhile on 24th August, 1998 and on 3rd November, 1999 notices under Section 142(1) of the Income Tax Act were issued to the Petitioner by the Assessing Officer.
(3.) The relevant provisions of the Income Tax Act relating to the furnishing of returns, were, at the material time as follows: 139. (1) Every person, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed: Provided that a person, not furnishing return this Sub-section and residing in such area as may be specified by the Board in this behalf by a notification in the Official Gazette, and who at any time during the previous war fulfils any two of the following conditions, namely: (i) is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified by the Board in this behalf; or (ii) is the owner or the lessee of a motor vehicle; or (iii) is a subscriber to a telephone; or (iv) has incurred expenditure for himself or any other person on travel to any foreign country, Shall furnish a return, of his income during the previous year, on or before the due date in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed. Explanation 1. In this Sub-section, "due date" means - (a) where the Assessee is a company, the 30th day of November of the assessment year; (4) Any person who has not furnished a return within the time allowed to him under Sub-section (1), or within the time allowed under a notice issued under Sub-section (1) of Section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier: Provided............... ......................... 142. (1) For the purpose of making an assessment under this Act, the Assessing Officer may serve on any person who has made a return under Section 139 or in case the time allowed under Sub-section (1) of that section for furnishing the return has expired a notice requiring him, on a date to be therein specified.: (i) where such person has not made a return within the time allowed under Sub-section (1) of Section 139 or before the end of the relevant assessment year, to furnish a return of his income or the income of any other person in respect of which he is assessable under this Act, in the prescribed from and verified in the prescribed manner and setting forth such other particulars as may be prescribed, or; (ii) to produce, car cause to be produced, such accounts or documents as the Assessing Officer may require, or (iii) to furnish in writing and verified in the prescribed manner; information in such form and on such points or matters (including a statement of all assets and liabilities of the Assessee, whether included in the accounts or not) as the Assessing Officer may require: Provided that: (a) the previous approval of the Deputy Commissioner shall be obtained before requiring the Assessee to furnish a statement of all assets and liabilities not included in the accounts; (b) the Assessing Officer shall not require the production of any accounts relating to a period more than three years prior to the previous Year.;