2024 (11) TMI 1389

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r the parties, the above captioned petition is taken on Board. 3. The hearing scheduled on 09.04.2025, is cancelled. W.P.(C) 9184/2024 4. The petitioner has filed the present petition impugning a notice dated 01.03.2024 (hereafter the impugned notice) issued under Section 148A (b) of the Income Tax Act, 1961 (hereafter the Act). The petitioner also impugns a consequent order dated 30.03.2024 (hereafter the impugned order) issued under Section 148A (d) of the Act seeking reopening of the petitioner's assessment for the assessment year (AY) 2017-18. 5. Apart from assailing the impugned notice and the impugned order on merits, the petitioner also challenges the initiation of the said proceedings on the ground of jurisdiction of the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e, is reproduced below: Information Code Information Description Source Amount Description Amount (Rs. ) SFT-003 Cash withdrawals (including through bearer's cheque) in current account STATE BANK OF INDIA Aggregate gross amount received from person in cash 8965000 SFT-003 (D) Cash deposits (including through bearer's cheque) in current account VIJAYA BANK Aggregate gross amount received from person in cash 10318062 SFT-006 Payments made by any person in respect of one or more credit cards issued to that person, in a financial year SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED Aggregate gross amount received from person in cash 5241312 SFT-006 Payments made by any person in r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... BANK LIMITED Aggregate gross amount received from person in cash 6784989 EXC-002 Turnover from Services reported in service tax return CBIC Gross taxable amount 21242048 SFT-003 (D) Cash deposits (including through bearer's cheque) in current account STATE BANK OF INDIA Aggregate gross amount received from person in cash 304600 TOTAL 8,79,42,231 10. In addition to the cash deposits aggregating Rs. 8,79,42,231/-, the JAO had also alleged that there was unexplained cash in the account (Axis Bank) amounting to Rs. 63,94,000/-. Thus, the total value of the transactions, which were suggestive of petitioner's income escaping assessment was quantified at Rs. 9,43,36,231/-. The petitioner had responded ....