TaxTMI 
TaxTMI 
2026 (10) TMI 66
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.... is being decided at the admission stage. 3. The case of the petitioner is that he is individual by status and is a stamp vendor having a valid license no. 14/2011-12 dated 23.12.2011 issued by the Additional District Magistrate (Finance / Revenue) Mathura. According to the petitioner, ex-parte proceedings came to be instituted against the applicant referable to the Assessment Year 2022-23 being Financial Year 2021-22 for the period from 01.04.2021 to 31.03.2022. An ex-parte assessment order came to be passed under Section 144 of the Income Tax Act on 23.01.2024. 4. Questioning the said order, the petitioner herein preferred a revision under Section 264 of the Income Tax Act on 29.04.2024 against the order dated 23.01.2024, which came....
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....action which was for the subsequent assessment or financial year. Even otherwise, according to the learned counsel for the writ petitioner, even if for name sake, just for the sake of argument, the same could have been done then too a separate notice ought to have been issued to the writ petitioner / assessee so as to put forward his stand, though legally it was not permissible at all. It is also contended that the order by the Assessing Authority on 23.01.2024 as well as the order passed by the revisional authority on 18.02.2026 have completely ignored the said legal aspect of the matter and further the order passed dated 23.01.2024 of the Assessing Authority is in violation of principles of natural justice being ex-parte in that regard, t....
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....The table so recaptulated is quoted hereinunder: 1. PAN APRPT9062R 2. Name of the assessee VIPIN TIWARI 3. Address of the assessee H No. 49 Civil Line 10-Civil Line Head Post Office, Mathura H.O Mathura, MATHURA 281001, Uttar Pradesh, India 4. Assessment Year 2022-23 5. Status INDIVIDUAL 6. Residential Status Resident 7. Date of filing of Return of Income 01/07/2022 8. Acknowledgement Number of Return of Income 731283860010722 9. Date of processing u/s 143(1)(a) of the Income-tax Act. 01/07/2022 10. Income Computed under section 143(1) of the Act 11. Date of service of Notice under section 143(2) of the Income-tax Act 02/06/2023,02/06/2....
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....) reads as under: "(v) Unexplained cash deposits Rs. 1,63,23,000/-: Further as discussed at para 5(vi) above, out of total credits of Rs. 24,91,67,760/-, total amount of Rs. 1,63,23,000/- were transferred during the period from 04.05.2022 to 21.05.2022 to a person named Ritu Tiwari (who appears to be wife of assessee). Apparently, the corresponding amount of cash deposited in the account of the assessee has not been received from customers for purchase of stamp papers/affidavits and the source of the amount of cash deposited in the account of assessee as well as purpose of transfer of funds to Ritu Tiwari and utilization of the same funds, has also not been explained by the assessee. The assessee was show caused to explain as to wh....
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....h previous year ended on 31.03.2022 and the transactions entered into the period 1.04.2021 to 31.03.2022 only were relevant for the said assessment period. The total credits of Rs. 24,91,67,760 in the bank account no. 08211100000309 with Punjab and Sind Bank, Mathura Cantt related to the financial year 2022-23 relevant to assessment year 2023-24 and the debits of Ritu Tiwari during the period 4.05.2022 to 21.05.2022 also pertained to assessment year 2023-24 and the said erroneous exercise done by the 'AO' has made entire assessment unsustainable both in facts as well as in law." 14. Further in the revisional order dated 18.02.2026 passed by the respondent No. 1, para 5.1.3 reads as under: "5.1.3 As per the JAO Report: In....
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....ion on the proposed variation. Accordingly, it is held that the assessee has no explanation/reply to offer on this issue. Hence, variation/addition of Rs. 1,63,23,000/- is made to the total income of the assessee on account of unexplained cash deposited/money/deemed income u/s 69A of the Act, for charging tax thereon as per provisions of section 115BBE of the Act." 16. A conjoint reading of the aforesaid extracts would go to show that the assessment came to be conducted relatable to the assessment year 2022-23 being Financial Year 2021-22 for the period from 01.04.2021 to 31.03.2022, however, cash entries as well as transfer entries for the period subsequent to the assessment / financial year came to be included. Though according to the ....