2025 (8) TMI 1768

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....ior Standing Counsel Mr. Varun Patel for the respondents. 2. By this petition under Article 226 of the Constitution of India, the petitioner has challenged the order dated 28.3.2023 passed under Section 148A(d) of the Income Tax Act, 1961 and notice under Section 148 of even date of the Act (for short 'the Act') by the respondent- Assessing Officer. 3. Brief facts of the petition are as follows: 3.1 The petitioner filed return of income for A.Y 2019-20 on 26.10.2019 declaring total income at Rs. 21,63,770/-. 4. On the basis of the specific information which was flagged as per Risk Management Strategy formulated by the CBDT through ITBA software under the head 'High Risk CRI/VRU cases', the DDIT (Inv) 7(1), Mumbai informed the re....

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....ssessee, as per the details provided in the notice. 6. It appears that the petitioner filed a detailed reply on 16.3.2023 along with various documents uploaded which is Acknowledgment placed on record at Annexure 'G' @ Page-55. However, the respondent Assessing Officer without considering the reply passed the impugned order dated 28.3.2023 under Section 148A(d) of the Act by observing as under: "4. In response to the show cause notice, the assessee has not furnished any reply/ written submission with complete details in respect of the transaction along with confirmation of respective parties. Therefore, it is clear that there is escapement of income to the extent of Rs. 93,02,139/- by way of accommodation entry availed by the as....