2023 (4) TMI 1225

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....: SHRI MANOJ MUNSHI - ADVOCATE FOR THE RESPONDENTS : SHRI SANJAY LAL - ADVOCATE ORDER This petition filed u/Art. 226 of the Constitution assails order of assessment dated 29.04.2021 passed by the Income Tax Department under the provisions of Section 143(3) read with Section 144 B of Income Tax Act (IT Act for brevity) qua assessment year 2018-19 vide Annexure-P/1. 2. Pertinently, this Court....

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....r Article 226 of Constitution of India. 5. The facts of the case reveal that petitioner who is a Govt. Company and which was earlier known as M.P. Trade & Investment Facilitation Corporation Ltd. was selected for scrutinee by JAO as per instructions of CBDT dated 05.09.2019 pertaining to assessment year 2018-19. The Revenue followed the process laid down in Section 144-B of IT Act. Accordingly, n....

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....king information pertaining to the huge expenditure claimed by the assessee. The assessee responded on 14.04.2021 by though submitting profit and loss account and copy of balance sheet, but without the schedule and supporting documents. Further, assessee failed to furnish any documentary evidence as regards the expenditure debited in profit and loss account. 6. In view of delayed compliance made ....