TaxTMI 
TaxTMI 
TaxTMI 
2025 (9) TMI 42
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.... of learned advocates for the respective parties, the matter is taken up for hearing. 3. Rule returnable forthwith. Learned Senior Standing Counsel Ms. Maithili D. Mehta waives service of notice of rule on behalf of the respondent. 4. By this petition under Article 226 of the Constitution of India, the petitioner has prayed for the following reliefs: "(a) to issue a writ of certiorari or in the nature of certiorari or any other appropriate writ, orders or directions quashing and setting aside the impugned order u/s. 148A(d) dated 29.03.2024 for A.Y.2018-19 passed by the Respondent [Annexure-A]. (b) to issue a writ of certiorari or in the nature of certiorari or any other appropriate writ, orders or directions of quashing and setting ....
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....he petitioner had made huge credits and debits in account with Mehsana Urban Coop. Bank Ltd., sales/purchases of yarn/cotton scrap with M/s. Mittal Enterprise, Prop. Mohit Mittal, sale of mutual fund, TDS in relation to sale of motor vehicle, purchase of foreign currency, etc. aggregating to Rs. 25,52,14,888/- which had escaped assessment for Assessment year 2018-2019 and the petitioner was asked to furnish response on or before 04.03.2024. 8. In response to such notice, the petitioner submitted its detailed explanation along with relevant documents vide reply dated 04.03.2024. 9. The respondent thereafter passed the impugned order under section 148A(d) of the Act on 29.03.2024 holding that the income to the tune of Rs. 3,84,39,847/- had ....
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.... the Assessing Officer has assumed the jurisdiction only on the ground that the petitioner did not furnish the sales and purchase register and has only furnished the ledger account. It was submitted that the books of accounts of the petitioner are duly audited and the ledger account of M/s. Mittal Enterprise was submitted which was part of the audited books of accounts and therefore, the respondent Assessing Officer could not have assumed the jurisdiction to reopen the assessment when the petitioner has disclosed all the material facts before the respondent Assessing Officer in the reply as well as at the time of filing the return of income in form of audited balance sheet and profit and loss account. 14. On the other hand learned Senior S....
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....view of the above, the contention of the assessee that impugned order u/s. 148A(d) of the Act and the impugned notice u/ s.148 of the Act on the firm to be quashed is not acceptable. The petitioner has stated that violation of natural justice and non-observance of the mandatory provisions of section 148A of the I.T. Act. The above contention of the petitioner that violation of natural justice and non-observance of mandatory provisions of section 148A is not acceptable. It can be seen from the chronology of the events that as mandated in the Provision of section 148A of the Act, opportunity was granted to the assessee vide notice u/s. 148A(b) of the I.T. Act dated 23/02/2024 and sufficient time was also granted to the assessee to fu....
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....n explanation to Section 149 of the Act has escaped assessment." 16. So far as other addition is concerned, the respondent Assessing Officer has only considered the transaction of Rs. 2,17,33,683/- with M/s. Mittal Enterprise and arrived at a prima facie conclusion that such transaction represents the escaped income of the assesse only on the ground that the petitioner failed to furnish sales/purchase register and had only furnished the ledger account by observing as under: "5(xii) In respect to Transaction of Rs. 2,17,33,683/- with Mittal Enterprise the assessee has stated that the same are duly recorded in the books and furnish the ledger of M/s. Mittal enterprise from the books. In respect of the transaction with M/s. Mittal Enterpri....