2025 (10) TMI 232

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....ithili Mehta for the respondents. 2. Rule returnable forthwith. Learned Senior Standing Counsel Ms. Maithili Mehta waives service of notice of rule on behalf of the respondent. 3. Considering the issue involved and with consent of learned advocates appearing for respective parties, the petition is taken up for final hearing today. 4. This petition is filed under Article 226 of the Constitution of India challenging initiation of reassessment proceedings for Assessment Year 2019-20 by issuing Notice under section 148 of the Income Tax Act (for short "the Act") dated 20.03.2023 and order dated 18.3.2023 passed under Section 148A(d) of the Act primarily on the ground that initiation of proceedings was on incorrect facts and against the....

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....ng the eligibility criteria. Even the bankers of the petitioner have classified the petitioner as a Person Resident outside India under the FEMA Regulations. 5.4 It is the case of the petitioner that in respect of the tabular information reproduced in the notice issued u/s.148A(a), the petitioner had provided his explanation against each piece of information in the similar tabular format as of the notice. On perusal of the said explanation, it can be seen that barring the information of Rs.798/- in respect of TDS deducted by HDFC Bank, all the information pertains to investments made in earlier years. It was specifically stated that, no fresh investments pertaining to most of the information were made in the year under consideration. ....

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....te Mr. Manish Shah for the petitioner that respondent in its order passed under Section 148A(d) had neither objectively considered the reply furnished by the petitioner nor furnished any reason of disagreement with the stand taken by the petition. Inspite of the same, the respondent passed the impugned order in a mechanical manner without applying mind to the information furnished, ignoring the factual contention by put forward by the petitioner. 8. Per contra, learned Senior Standing Counsel Ms. Maithili Mehta was not in a position to counter the contention raised by the petitioner. It was submitted that a notice under Section 148A(d) was issued on the basis of the information that the assessee was identified as an 'non-filer' on Insigh....