TaxTMI 
TaxTMI 
2023 (2) TMI 863
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....r 2016- 2017 whereby, the respondent has assessed the total income of Rs.2,28,98,030/- after making total addition of Rs.39,87,750/- and thereby, the total amount has been raised to Rs.1,05,82,057/- under Section 156 and penalty proceedings under Section 274 of the Act read with Section 271(1) (c) have been initiated. 2. The petitioner is a partner and is regularly assessed. He filed Return of Income for the Assessment Year 2016-2017 on 22.09.2016 declaring his total income at Rs.1.89 lakh (rounded off). 2.1 The case of the petitioner was selected for scrutiny. That regular assessment under Section 143(3) of the Act was completed on 07.12.2018. The Principal Commissioner of Income Tax 1 initiated proceedings under Section 263 of the Act a....
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....(1)(C) of the Act issued on 31.03.2022 for A.Y. 2016-17. (d) to call for the records of the proceedings and look into them and be pleased to issue a writ of certiorari or any other appropriate writ, order or direction quashing the impugned notice and order. (e) Pending the hearing and final disposal of this petition to maintain status quo in the matter and ask the Respondent and it subordinates not to take any action or to do anything in furtherance and pursuance of this impugned assessment order, notice of demand and penalty. (f) To allow this Petition with cost. (g) To pass any further or other orders as the Hon'ble Court may deem proper in the interest of justice and in the circumstances of the case." 4. In response to the ....
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....ssessment was not in consonance with the legislative intent. Heavy reliance was placed on the decisions in Calcutta Discount Co. Ltd. v. ITO, 41 ITR 191 (SC) and in Radhakishan Industries v. State of Himachal Pradesh and Others, (2021) 6 SCC 771. The addition made herein of Rs.39,87,750/- allowing less than four hours to make necessary calculations and collect the details is next to impossible task and hence, the order is sought to be interfered with. 6. Having thus heard both the sides, on the ground of non-compliance of mandatory statutory provisions and for grant of less than four hours to respond to the notice on 29.03.2022, interference is desirable. We could notice that the final show-cause notice cum draft assessment order proposing....