Court dismisses writ petition challenging property assessment order; advises statutory appeal process within 30 days

The court dismissed the writ petition challenging an assessment order regarding a property transaction discrepancy. The court found no breach of natural justice, noting the assessment was based on provided documents. The petitioner was advised to appeal to the Appellate Commissioner within 30 days and could seek a stay on recovery proceedings under the Income Tax Act. The judgment highlighted the statutory appeal process for relief, with no costs awarded to either party.

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Issues:
Challenge to assessment order based on purchase and sale value discrepancy, Violation of principles of natural justice in passing the impugned order.

Analysis:
The petitioner challenged the assessment order issued by the second respondent, contending that the basis of assessment contradicts the three notices served earlier. The petitioner bought a property in 2007-2008 for Rs.95.18 Lakhs, selling it in the relevant financial year for Rs.90,00,000/-. The petitioner's counsel argued that the dispute centered on the sale consideration and income taxed, not the purchase value. Alleging a breach of natural justice, the petitioner sought to quash the impugned order.

The respondent's counsel countered that while the impugned order acknowledged the sale value as Rs.90,00,000/-, it determined the purchase value at Rs.12.35 Lakhs based on provided documents. The court noted that the order relied on available records furnished to the Income Tax Department. Consequently, the court found no merit in entertaining the writ petition, advising the petitioner to seek recourse with the Appellate Commissioner. The petitioner was granted 30 days to file a statutory appeal, with assurance of due consideration on merits. Additionally, the petitioner could apply to halt recovery proceedings under Section 220(6) of the Income Tax Act, 1961.

Ultimately, the court dismissed the writ petition, allowing no costs and closing connected Writ Miscellaneous petitions. The judgment emphasized the petitioner's avenue for appeal and potential stay of recovery proceedings, directing them to pursue relief through the statutory process.

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