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2022 (5) TMI 1436
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....tition has been filed praying for the following relief: "I. To issue a writ, order or direction in the nature of CERTIORARI quashing the Impugned Notice issued under Section 148 of the Income Tax Act Dated 31.03.2021 [Annexure No. 2 (coll)] r/w Order Dt. 24.03.2022 [Annexure No. 9] issued by the Respondent No.2 and the connected proceedings for Reassessment of Income for A.Y. 2017-18. II. To issue a writ, order or direction in the nature of Certiorari Quashing the Re- Assessment Order for the Assessment Year 2017-18, Dt. 31.03.2022 [Annexure No.13] which is made in gross violation of law and principles of Natural justice. III. To issue a writ, order or direction in the nature of MANDAMUS declaring that Amendment c....
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....total income of the assessee is computed as under: Total Income declared as per return : Rs. 11,55,020 As discussed in para 4.1 : Rs. 13,67,24,000/- Total Assessed Income : Rs. 13,78,79,020/- 4. The petitioner submitted a reply dated 25.03.2022 to the aforesaid show cause notice. In paragraph-2 of the reply, the petitioner has submitted as under: "2.That regards cash deposited in bank amounting to Rs. 13,67,24,000/- in Bank of Baroda during the year under consideration, we would like to inform you that we have not deposited any amount in cash in Bank of Baroda. The allegation levied by your honour regarding deposit of cash with Bank of Baroda is totally baseless and against the facts hence all the pro....
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.... authority by issuing notice u/s.148 dated 31.03.2021 which was duly served after recording reasons to believe that Income had escaped assessment on account of non-disclosure of fully and truly all material facts available on record. 3. In response, the assessee filed return of income u/s. 148 on 28.04.2021 declaring total income of Rs. 11,55,020/-. Subsequently notice u/s. 143(2) and 142(1) of the Income-tax Act, 1961 is issued and duly served upon the assessee. 4. The assessee furnished details and submitted explanation which are considered. 4. FACTS OF THE CASE: 4.1 As per record / information available with the Department it is seen that during the financial year 2016-17 relevant to A.Y. 2017-18 there....