M.G Metalloy Private Limited v. Assistant Commissioner of Income Tax Central Circle 2 & Ors.
Income Tax – Section 148 notices – Explanation to Section 14A inserted by Finance Act, 2022
Case brief
What is this about?
MG Metalloy Private Limited v Assistant Commissioner of Income Tax Central Circle-2 & Ors., W.P.(C) 9768/2024, W.P.(C) 9769/2024, W.P.(C) 754/2025 (Delhi HC, order dated 07.01.2026, Dinesh Mehta & Vinod Kumar, JJ.) - writ petitions allowed; Section 148 notices dated 26.04.2024 and 28.12.2023 and Section 148A(d) reasons quashed for AY 2017-18, 2018-19, 2019-20; prospective vs retrospective application of Explanation to Section 14A inserted by Amendment Act/Finance Act 2022; Era Infrastructure (ITA 204/2022, decided 20.07.2022) relied on; SLP pending before Supreme Court as per respondent counsel.
What did the court decide?
Quashing and setting aside of the impugned notices dated 26.04.2024 and 28.12.2023 and the corresponding reasons under Section 148A(d). ¶20