2023 (11) TMI 46

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....orth hereafter: "1. The matter is taken up today once again as the order dated 28.07.2022 passed by the respondent/revenue under Section 148A(d) of the Income Tax Act, 1961 [in short, "the Act"] was discrepant. 1.1 The discrepancy in the aforementioned order concerns the bank account number of one Mr Ramesh Kumar Bagri maintained with IDBI Bank. 2. Mr C.S. Aggarwal, learned senior counsel, who appears on behalf of the petitioner, says that he has got yet another certificate titled "To Whom It May Concern" dated 15.12.2022 with respect to the other account number i.e., 264102000006354 indicated in the aforementioned order. 2.1 A copy of this communication has been handed over to Mr Abhishek Maratha. 2.2 The Registry will scan and ....

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....d by the assessing officer i.e., Mr Sanjeev Bimbisariye. The following information was furnished to us by way of a tabular chart:   Date F.Y. Inst Number Particulars Debit Amount Credit Amount Balance Account details 27.08.2014 2014-15 M106423 167129 TIRUPATI TRADING CORPORATION 100000   43,703.20 CR IDBI BANK - 264102000006 354 18.10.2014 2014-15 M38406   TIRUPATI TRADING CORPORATION   35084 28,70,921.80 CR IDBI BANK - 264102000006 354 04.11.2014 2014-15 M3818   TIRUPATI TRADING CORPORATION   1539000 24,95,297.00 CR IDBI BANK - 264102000006 354 08.11.2014 2014-15 M35940   TIRUPATI TRADING CORPORATION   1021....

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.... Branch 1 3111317955 Cash Credit Wrightganj, Ghaziabad 2 3145243754 Current account Wrightganj, Ghaziabad 3 3006562407 Current (Collection A/C) Wrightganj, Ghaziabad It is further certified that M/s Tirupati Trading Corporation has not made any payment into IDBI bank account no. 264102000006454 of Shri Ramesh Bagri of Rs. 17600000/- (Rs. One Crore Seventy Six Lakh Only) on 12.08.2015. In fact, it has not made any payment or received any sum IDBI bank account no. 264102000006454 of Shri Ramesh Bagri in its aforesaid three bank accounts in FY 2015-16. This certificate has been issued as per the request of customer without any risk and responsibility of bank officials. Astt. Manager B/o Ghaziabad" xxx xxx xxx "GHAZIA/OPE....

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....by him in AY 2016-17, in paragraphs 1 and 7.1. of the order dated 28.07.2022 issued under Section 148A(d) of the Act; while paragraph 1 sets out the account number as "2641020000006354", paragraph 7.1. of the same order sets out the account number as "2641020000006454". 12.1. While this discrepancy could have been on account of a typographical error, at the moment, we have before us, in the very least, the certificate dated 01.08.2022, which indicates that the petitioner had not remitted Rs. 1,76,00,000/- on 12.08.2015 from its bank accounts maintained with CBI. 13. Given this position, it appears that, at least at this juncture, there was no information or material available with the concerned authority to trigger proceedings under S....

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....n triggering reassessment proceedings against the petitioner. For convenience, the said paragraphs are extracted hereafter: "3. Based on analysis of bank statements, it is submitted that verification has been made by this office. On perusal of information received from the bank it is observed actual details of the beneficiaries pertained to Tirapati trading co. PAN AEVPT9452L and Tirapati trading company BWXPK7867H. Inadvertently Tirupati trading Corporation PAN AADFT9155C was quoted while sharing the information 4. Submitted for information and necessary action.Hence, based on the above-mentioned correspondence from the Office of the Deputy Director of Income Tax (Investigation). Unit-II. Faridabad, it is now evident that during the f....