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of <h1>Authorities reopening assessment failed to provide documents used to form belief of income escapement; ordered production by 17 February 2024</h1> <h3>Hemant Lalji Shah Versus Assistant Commissioner Of Income Tax Circle-20 (1), Mumbai & Ors.</h3> HC held that authorities reopening an assessment failed to furnish the statements, reports or other documents relied on to form a reason to believe there ... Reopening of assessment - petitioner has called upon respondents to furnish statements / reports / evidences (if any), relied upon to form a reason to believe that there has been escapement of income but were not furnished - HELD THAT:- None of the statements have been made available and there is not even a reference to the request made in the order disposing the objections. We would agree petitioner that respondents should also make available the documents relied upon by them to form a reason to believe that there has been escapement of income. Respondents are directed to make available the documents relied upon by them including the statements, to petitioner on or before 17th February 2024. Petition disposed. Petition dated earlier remanded for de novo consideration; fresh objections were filed and, after personal hearing, an impugned order dated 14th December 2023 disposed those objections. Petitioner sought production of statements/reports relied upon to form a 'reason to believe that there has been escapement of income'; no such documents were furnished or referenced. A notice dated 13th January 2024 under Section 142(1) was issued seeking detailed information including business description and income computation, particulars and source of a cash loan of Rs.2,75,00,000/-, bank statements for FY 2016-17 (A.Y. 2017-18), financial statements, and cash/bank books. Court directed respondents to produce the documents relied upon, including statements, to petitioner by 17th February 2024; petitioner to furnish responses and the documents called in the 13th January notice by 2nd March 2024; respondents may thereafter pass orders 'in accordance with law' on or before 30th April 2024. No observations were made on merits; all rights and contentions are kept open.
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