2022 (8) TMI 250

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....H ARORA Petitioner Through: Dr. Rakesh Gupta, Dr. Rakesh Kumar, Mr. Somil Agarwal and Mr. Anshul Mittal, Advocates. Respondents Through: Mr. Ruchir Bhatia, Sr. Standing Counsel for Revenue with Ms. Mansie Jain, Advocate. Mr. Rajnish Kumar Gaind, SPC for R-3/UOI. J U D G M E N T MANMOHAN, J (Oral): CM APPL. 33402/2022 Exemption allowed, subject to all just exceptions. According....

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....for which VFSPL could not provide the PAN/GSTIN of the entities in whose scrips it traded. It was further alleged in the said notice that as the information regarding the scrips was not provided during the assessment of VFSPL, prima facie all the transactions belonged to the Petitioner. It was also stated that since no details regarding these transactions were found to be declared in the Petitione....

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....ction 143(3) read with Section 144B of the Act was passed without making any addition and accepting the returned income of the VFSPL. 5. Learned counsel for the Petitioner states that the impugned order under Section 148A(d) of the Act has been passed by the authorities without considering the detailed reply of the Petitioner filed in response to the impugned show cause notice dated 22nd March,....

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....crutiny assessment proceedings had been completed in the case of VFSPL was not brought to the notice of the Assessing Officer and the said fact throws an entirely different light on the proceedings. 8. Having heard the learned counsel for the parties, this Court finds that if the averments in the writ petition are true and correct, then the scrutiny assessment of VSFPL had concluded even prior ....