2023 (11) TMI 506

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....ondents-Revenue : Mr. N.C. Mohanty. P.C. : 1. Petitioner is impugning an order dated 30th December 2016 passed under Section 144 read with Section 147 of the Income Tax Act, 1961 (the Act) for Assessment Year 2009-10. 2. It is petitioner's case that there were two directors in the Board of petitioner namely Devesh Ajmera and Uma Devesh Ajmera, it was Devesh Ajmera the husband of Uma Ajmera wh....

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....h February 2020. 3. We have considered the impugned order dated 30th December 2016 in which it is stated, and rightly so, that the notices that were sent to petitioner came back undelivered with the endorsement "Left". The A.O., it appears from the impugned order, was racing against time because the matter would have got time barred and therefore passed the impugned order. Paragraph No. 5 of the ....

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.... about the existence of the order only on or about March 2020, the time to file appeal has also expired. 6. It is averred in the petition that the OTS with Union Bank of India was only about Rs. 42 Lakhs and not Rs. 9.60 Crores. Therefore, in our view grave prejudice will be caused to petitioner if the impugned order is sustained. 7. Dr. Shivaram also states that petitioner/Uma Devesh Ajmera wil....