2026 (6) TMI 564

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....rance note of learned Senior Standing Counsel Mr. Aaditya Bhatt on behalf of the respondent authority, as and when it is filed. 3. The short issue is involved in the present writ petition hence, the same is taken up for final hearing with consent of the learned advocates appearing for the respective parties. 4. The petitioner has challenged the impugned notice dated 27.03.2025 issued under section 148 of the Income Tax Act, 1961 (for short "the Act") for the Assessment Year (AY) 2018-19 and consequent assessment order u/s 147 r.w.s. 143(3) of the Act dated 30.03.2026. 5. Learned advocate Mr. Vora appearing for the petitioner has submitted that the loose paper reliance upon which is placed is neither authored nor signed by the petit....

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....s. 143(3) of the Act may not be interfered since the petitioner had ample opportunities to defend reopening of assessment in the regular assessment proceedings. 8. The facts, which are established from the record, are that reopening of assessment is premised on the loose paper, which refers to the land being Revenue Survey No. 581 with Non-agricultural (NA) having prescribed rate of Rs. 17,000/- per square yard. The data mentioned in the said paper is illegible and only name appearing in the paper is of some Rajubhai Thakkar Dev, who is neither the co-owner nor the purchaser, and with whom the petitioner has no connection. Satisfaction note also does not refer that the petitioner has any connection with B Safal Group, City Estate Group, ....

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.... sold by the petitioner vide sale deed dated 07.10.2020 is an agricultural land. The name of the seller appears to be Sanjay Thakkar. Thus, there are three components which do not reconcile with the petitioner (i) the date mentioned as 22.04.2021, (ii) the status of the land being shown as "NA" i.e. non-agricultural and (iii) the name of the seller - Sanjay Thakkar. 13. The questions and answers forming part of the statements recorded under the provisions of 131 of the IT Act, in the case of one Shri Nagjibhai Bhavadiya, the searched person, does not in any manner mention the name of the petitioners. Thus, we do not find any direct or indirect link with the seized document and the same does not even remotely connect the rate mentio....