TaxTMI 
TaxTMI 
2024 (5) TMI 600
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....petition impugning an assessment order dated 26.03.2024 (hereafter the impugned order) passed under Section 143(3) read with Section 144B of the Income Tax Act, 1961 (hereafter the Act) in respect of the Assessment Year 2022-23 relevant to the Previous Year 2021-22. Although the assessee has an efficacious remedy of an appeal, the assessee seeks to pursue the present petition confining the challenge to the impugned order on the ground that the impugned order was passed in violation of the principles of natural justice. 2. The Assessing Officer has added a sum of Rs.70,10,37,475/- (Rupees Seventy Crores Ten Lacs Thirty-seven Thousand Four Hundred Seventy-five Only) to the total income as declared by the assessee, as unexplained expenditur....
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....f Rs.2,21,51,93,180/-. 4. The assessee had contested the said information. It had demanded the details of the imports made by it which were allegedly concealed. The assessee claims that the said details were not provided and therefore it had no opportunity to effectively respond to the said allegation. The assessee's grievance is that the Assessing Officer had proceeded to frame the assessment, without affording the assessee the opportunity to effectively contest the ground on which the addition was made. 5. A plain reading of the impugned order indicates that the Assessing Officer has proceeded to make an addition without referring to the details of the imports allegedly concealed by the assessee. 6. The relevant extract of the im....
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....een explained in the video conference that the data provided by the CBIC has been shared with him as it is. During the VC it was also made clear that the party wise and date wise data of all the bills has not been provided by the CBIC. Assessee has been reiterating about providing the same data despite being told that the same has not been provided by the CBIC. Assessee is trying to bring on record that it was not presented with sufficient opportunities and the efforts are appreciated. However, it has been made very clear that the data available has been shared with assessee as it is. Assessee was also told about the authenticity of the data as same has been provided by an agency which keeps record of all imported goods in India. Further, a....
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....e tabular statement as shared with the assessee, the Assessing Officer had no further information from CBIC. 9. It is, thus, apparent that the Assessing Officer also had no knowledge as to which import or purchase made by the assessee was not disclosed by the assessee as the Assessing Officer also had no such information. We accept the contention that apart from stating that it had not imported goods of the value as disclosed, it was impossible for the assessee to dispute the alleged additional purchases. The assessee could not be faulted for not reconciling the data as the information available with the Assessing Officer is wholly insufficient for carrying out any reconciliation exercise. It is obvious that the reconciliation exercise c....