Retrospective Repeal of Section 144B(9): Opening Up of Pandora Box of Litigation?
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- Last Updated on 18 April, 2022
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Mayank Mohanka – [2022] 137 taxmann.com 228 (Article)
The Hon’ble Supreme Court, on 11.4.2022, has admitted Revenue’s SLP (reported in [2022] 137 taxmann.com 210 (SC)), against the Hon’ble Bombay High Court Judgement in the case of Mantra Industries Ltd v. NFAC (reported in [2021] 131 taxmann.com 165/283 Taxman 459/[2022] 441 ITR 467 (Bom.)), and has also stayed this Order, till next date of hearing on 4.5.2022.
The main plea of Revenue’s Representative, before the Hon’ble Supreme Court was the retrospective Omission of subsection (9) of section 144B, w.e.f. 1.4.2021, the by Finance Act 2022. In its Order, the Hon’ble Bombay High Court has set aside the impugned faceless assessment order, by holding the impugned assessment order as passed in violation of the Principle of Natural Justice and in non-adherence to the prescribed procedure in section 144B, in view of express mandate in the then existing subsection (9) of section 144B of Income Tax Act.
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