• A notice has been issued by ADIT (Investigation) u/s 252(1)(a) of the Income-tax Act, 2025 calling for information relating to FY 2023–24 to FY 2025–26.
• The information sought pertains to periods that were otherwise governed under the Income-tax Act, 1961.
• The notice cites powers under the Income-tax Act, 2025 for requisition of information, while for non-compliance it proposes penalty u/s 465(2)(c) of the Income-tax Act, 1961.
• The notice was dated earlier but was actually received on the compliance date itself, resulting in no effective opportunity to respond.
• Further, the notice is not reflecting on the assessee's e-filing portal.
Queries:
Whether the Investigation Wing/ADIT can invoke section 252(1)(a) of the Income-tax Act, 2025 for calling information pertaining to FY 2023–24 to FY 2025–26 where the underlying transactions fall in periods governed by the Income-tax Act, 1961?
Whether issuance of notice under the new Act and simultaneous proposal of penalty under section 465(2)(c) of the Income-tax Act, 1961 creates any jurisdictional or procedural defect?
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