2024 (6) TMI 1499

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....of income for assessment year 2017- 2018 on 27.10.2017. An assessment order under Section 143(3) of the Income Tax Act, 1961 (the Income Tax Act) was issued on 20.12.2019. Such assessment was reopened by issuing notice under Section 148 dated 31.03.2021. Such notice was followed by notices under Section 142(1) and the petitioner filed the return of income on 09.02.2022. An assessment order was issued thereafter on 30.03.2022. Such order was set aside by the order dated 05.09.2023 in W.P.No.9420 of 2022 on the ground that a draft assessment order under Section 144B was not issued. The order impugned herein was issued thereafter. 3. Learned counsel for the petitioner submits that the reassessment was based on credits made through RTGS in the....

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....s set out for reopening the assessment are untenable in as much as it is recorded therein that the assessee had not filed the return of income. Because the reason for reopening the assessment is untenable, learned counsel contends that the impugned order cannot be sustained. 4. Dr.B.Ramaswamy, learned senior standing counsel, accepts notice for the respondents. He points out that principles of natural justice were fully complied with by issuing notice dated 31.03.2021 under Section 148 and multiple notices under Section 142(1). He also points out that show cause notice dated 27.03.2022 was issued indicating the proposed variations and that the objections of the petitioner were duly considered before issuing the impugned assessment order. C....

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....to consideration. Upon appraisal of such materials, findings were recorded by the assessing officer. On prima facie consideration of the material documents, it cannot be concluded that the appraisal of evidence was perverse. Any reappraisal of such evidence would be squarely within the province of the appellate forum. 7. As regards the objection that the notice under Section 148 of the Income Tax Act was not received, it is noticeable that multiple notices under Section 142(1) were issued thereafter and the reasons for reopening the assessment were communicated to the petitioner on 17.03.2022. In these circumstances, on the allegation that the procedure prescribed in GKN Driveshafts was not followed by the respondents, I am not inclined to....