TaxTMI 
TaxTMI 
2021 (12) TMI 413
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....June 2019. Before we go into the reasons, this is a case where the return of income was processed under Section 143(1) of the Act and not under Section 143(3) of the Act and, therefore, the proviso of Section 147 of the Act will not applicable. The Assessing Officer has to only make out a case for reasons to believe and if the court is satisfied that there is some tangible material, the court should not interfere. A Division Bench of this Court in Export Credit Guarantee Corporation India Ltd. vs Addl. CIT & Ors.(2013) 350 ITR 651 (Bom) has held that what is tangible is something which is not illusory, hypothetical or a matter of conjecture. The Court also held that something which is tangible need not be something which is new. 2. The rea....
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....n of petitioner availing of accommodation entries of bogus sale would not arise. Mr. Gopal states notwithstanding the objections, the order rejecting those objections came to be passed which is also impugned in this petition as originally filed. 4. Mr. Gopal raised a further grievance that even though this court granted stay of the proceedings vide order dated 26th September 2019 and it being brought to the notice of the Assessing Officer, a specific query raised and copy of order provided, still the Assessing Officer has proceeded to pass the assessment order dated 13th May 2021 disregarding the stay granted by this court. Mr. Gopal submitted that not only has the Assessing Officer disregarded the order of this court but has also passed o....
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....ite being aware that there was a stay pending against the Revenue. At Exhibit M to the petition is a copy of a Confirmatory Check List for Reassessment-148 cases dated 11th February 2021 issued by ITO Mumbai. Petitioner's Pan number is referred therein. It is expressly mentioned that this writ petition has been filed and is pending and the reassessment in the proceedings in the case may be kept in abeyance. Notwithstanding this advise, petitioner thereafter received a communication dated 22nd March 2021, being notice under Section 142(1) of the Act calling upon petitioner to file various particulars and documents. Petitioner responded to the said communication on 25th March 2021 and informed the Assessing Officer about the pendency of this ....
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....oss breach of the order passed by this court. We would add this order amounts to willful disobedience of the order passed by this court. In fact the Assessing Officer has recorded in the assessment order there is a stay granted but because limitation in this case will be barred on 30th March 2021, he has no option but to complete the case before the limitation and passes the order on 13th May 2021. In the assessment order, the Assessing Officer is referring to a letter stating that the assessee has furnished the Hon'ble High Court's letter and reproduce the letter. But it is not a letter but an order of the court, which also shows total non application of mind by the Assessing Officer and by referring to an order of this court as letter the....