TaxTMI 
TaxTMI 
2025 (1) TMI 703
X X X X Extracts X X X X
X X X X Extracts X X X X
....ent No.2 in ITBA/AST/F/148A/2023-24/1062885147(1), so also the notice of the even date requiring assessee to file return within 90 days. 2. Petitioner's contention is that assessee is a Private Limited Company registered with the Registrar of Companies at Gwalior and is limited by shares. It had submitted its return of income for Assessment Year 2018-19, on 10.07.2018, declaring total income of Rs. 27,52,230/- (Rupees Twenty Seven Lacs, Fifty Two Thousand, Two Hundred and Thirty). On 16.02.2024, respondent No.2, issued a notice under Section 148-A (b), to show cause through insight portal in accordance with the risk management strategy formulated by the Central Board of Direct Tax (hereinafter referred to as CBDT), for verification of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r other documents or evidence, which reveal that the income chargeable to tax, represented in the form of assets, which has escaped assessment amounts to or is likely to amount to 50 Lakh rupees or more for that year. Thus, it is submitted that notice is not called for and should be quashed. 5. In support of his contention, reliance is placed on the judgment of various High Courts, which are as under :- Divya Capital One (P.) Ltd. Vs. Assistant Commissioner of Income Tax [(2022) 139 taxmanncom 461 (Delhi), Pratima Halder Vs. Union of India and others (2024) 468 ITR 23 (Cal), Chotanagpur Diocessan Trust Association Vs. Union of India, (2024) 464 ITR 748 (Jharkhand), Best Buildwell (P)Ltd. Vs. Income Tax Officer & Ors. (2022) 288 Taxmann 670....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nion of this Court, the judgments of these High Courts do not have persuasive value. 11.Pertinently, the question of going into the veracity and genuineness of material/evidence forming the opinion of the Assessing Officer suggesting that income of petitioner/assessee has escaped assessment ought not to be gone into while exercising writ jurisdiction under Article 226 or supervisory jurisdiction under Article 227 of the Constitution. Thus, the ground of reliability and tenability of the evidence/material is not considered herein. 12. Consequently, the present petition deserves to be and is hereby dismissed at the admission stage itself with liberty to petitioner to avail the statutory alternative remedy under the Income Tax Act in accor....