2023 (11) TMI 1222

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....-11-2023<br>WRIT PETITION NO. 20807 OF 2023 (T-IT) - -<br>Income Tax<br>THE HON&#39;BLE MR JUSTICE B M SHYAM PRASAD FOR THE ETITIONER : SRI. RAVI SHANKAR S V.,ADVOCATE FOR THE RESPONDENTS : SRI. RAVI RAJ Y V.,ADVOCATE A/W SRI. M. DILIP, ADVOCATE ORDER The petitioner has impugned the notice dated 17.03.2022 [Annexure-A] issued by the first respondent under Section 148A(b) of the Income ....

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.... signature and in view of the decision of the High Court of Bombay in Prakash Krishnavtar Bhardwaj vs. Income Tax Officer, reported in [2023] 451 ITR 27 [Bombay], all further proceedings must fail. 3. Sri Ravishankar S V, also submits that during the financial year relevant to the assessment year 2015-16, the petitioner was employed with M/s Varshitha Enterprises, Kunigal; that the proprietor o....

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....s Gagan Enterprises' selling currency for mobile recharge; that the cash deposits even during this subsequent assessment year is treated as business income; the petitioner's income is determined at the rate of 3% of the gross turn over; that the petitioner would not be liable for any income tax for the relevant assessment year and even otherwise if cash deposits are treated as gross business turn ....

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....nually, the same would be invalid and because such notice is invalid, no jurisdiction would vest with the first respondent to continue the proceedings pursuant to such notice. 6. However, Sri M.Dilip, submits that the authorities must be reserved with liberty to issue fresh notice if it could be permissible given the provisions of Section 149 of the IT Act. In rejoinder, Sri Ravishankar S V, su....