M/S INDEPENDENT MEDIA SERVICES LTD vs ASSESSING OFFICER, CIRCLE 10(1) & ANR.

Judgment text excerpt

$~15 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 02.07.2025 + W.P.(C) 11601/2024 and CM APPL. 48202/2024 M/S INDEPENDENT NEWS SERVICE PVT. LTD. ....Petitioner Through: Mr M.P. Rastogi with Mr Ram Naresh and Mr Shivam Malik, Advocates. versus THE ASSESSING OFFICER, CIRCLE 10(1) & ANR. .....Respondents Through: Mr Gaurav Gupta, SSC with Mr Shivendra Singh and Mr Yojit Pareek, JSCs. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA VIBHU BAKHRU, J. (ORAL) 1. The petitioner has filed the present petition impugning an order dated 08.04.2024 passed under Section 148A(d) of the Income Tax Act, 1961 [the Act] as well as consequent notice issued under Section 148 of the Act. 2. The petitioner had filed its income tax return on 18.10.2017 declaring an income of ₹61,35,36,200/- for Assessment Year [AY] 2017-18. Thereafter on 26.03.2019, the petitioner filed a revised income tax return declaring an income of ₹61,10,86,200/- for AY 2017-18. The return was picked up for scrutiny and the Assessing Officer [AO] completed the Signature Not Verified Digitally Signed W.P.(C) 11601/2024 Page 1 of 6 By:TARUN RANA Signing Date:04.07.2025 13:00:29 assessment for AY 2017-18 and passed an order dated 22.11.2019 under Section 143(3) of the Act. 3. The AO initiated proceedings for reopening of the assessment by issuing a notice under Section 148A(b) of the Act on 26.03.2024. According to the AO, the information as set out in the Annexure to the said notice, suggested that the petitioner’s income for AY 2017-18 had escaped assessment. The annexure to the said notice indicates that on 11.05.2019, a survey under Section 133A of the Act was conducted by the Income Tax Department at the Headquarters of Jammu and Kashmir Bank [J & K Bank], M.A Road, Srinagar. Du