2020 (3) TMI 1116

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....the Petitioner : Mr. N. V. Balaji For the Respondents : Mr. D. Prabhu Mukund Arunkumar ORDER Challenging the notice dated 21.09.2016 issued by the 2nd respondent, the petitioner has come up with the present writ petition. In the impugned notice, it is stated that the Assessing Officer determined the unexplained cash purchase at Rs. 1,14,97,899/- based on the information received from the ....

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....m purchased, then independent enquiry would be possible to go into the genuineness of the unaccounted purchase. Stating so, the second respondent sought to dismiss this writ petition. 3.The main contention of the learned counsel for the petitioner is that the second respondent, without applying his mind independently, has issued the impugned notice relying on the report of the Assessment Office....

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....acts of the present case. Such being the case, in the absence of any independent enquiry by the Assessing Officer, the disallowance sought to be made under the Income Tax Act, by the Assessing Officer, on the basis of the show cause notice, issued under the Central Excise Act cannot be sustained. When the assessable income was arrived at by applying a percentage rate, as held by this Court in CIT ....

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....the respondent, the learned counsel for the petitioner submitted that the petitioner may be permitted to file their objections afresh before the 2nd respondent, within a time frame to be stipulated by this Court. 6.Considering the facts and circumstances of the case and having regard to the submissions now made by the learned counsel on either side, this Court permits the petitioner to submit t....