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

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 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