TaxTMI 
TaxTMI 
2023 (5) TMI 1284
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....titioner seeking interim relief] 2. Issue notice. 2.1 Mr Abhishek Maratha, learned senior standing counsel, accepts notice on behalf of the respondent/revenue. 3. Given the directions that we propose to issue, Mr Maratha says that no counter-affidavit is required to be filed, and he will rely on the record presently available with the Court. Therefore, with the consent of the counsel for the parties, the matter is taken up for final hearing and disposal, at this stage itself. 4. This writ petition concerns Assessment Year (AY) 2017-18. The allegation levelled against the petitioner via notice dated 19.05.2022 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, "Act"] is, that it had sold an immovable property worth Rs.&....
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....ontained in paragraph 7 of the said order. For the sake of convenience, the same is extracted hereafter: "7. Reply of the assessee has been considered. Due to certain mistake in the information provided, earlier it was believed that the assessee had sold the immovable property. However, it is now clear that the assessee had indeed purchased the immovable property. The following points are notable in context of the information available on record: (i) Assessee has though claimed that it had filed reply to the notice u/s 133(6) dated 25.03.2021. Though there is nothing on record to prove that the assessee had filed any reply. (ii) From the verification made on e-filing portal, it is noted that no form 26 QB has been filed by the asses....
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....ment the purchase consideration. 10. Insofar as the balance sheet is concerned, our attention has been drawn to page 75 of the case file. The details of the bank account are provided on page 87 of the case file. 10.1 Likewise, in support of his plea, that loan had been availed to the extent of Rs. 6.75 cores, our attention has been drawn to the certificate issued by HDFC Bank. Reliance in this regard is placed on document marked as Annexure P-9, appended on page 137 of the case file. 11. In our view, these are facts which are material, and could not have been given a short shrift, as has been done by the AO. Mr Jain is right in contending that there was no application of mind by the AO while passing the impugned order dated 28.07.2....