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RAJIV SHAKDHER, TARA VITASTA GANJU
Sunil Malik – Appellant
Versus
Assistant Commissioner Of Income Tax Circle 49(1), Delhi – Respondent
JUDGMENT :
[Rajiv Shakdher, J.]
CM APPL. 2026/2023
1. Allowed, subject to just exceptions.
W.P.(C) 512/2023 &CM APPL. 2025/2023 [Application filed on behalf of the petitioner seeking interim relief]
2. Issue notice.
2.1 Mr Abhishek Maratha accepts notice on behalf of the respondent nos.1 to 5/revenue, while Mr Vardhman Kaushik accepts notice on behalf of the respondent no. 6/UOI.
3. In view of direction that we propose to pass, Mr Maratha says that counter-affidavit need not be filed. Therefore, with the consent of the counsel for the parties, the writ petition is taken up for hearing and final disposal at this stage itself.
4. The instant writ petition seeks to challenge the notice dated 23.06.2021 issued by the respondent no.1, as also the notice dated 01.06.2022 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, “the Act”].
4.1. Besides this, challenge is also laid to the order dated 31.07.2022 passed under Section 148A(d) of the Act, the consequential notice of even date i.e., 31.07.2022 issued under Section 148 of the Act, and the intimation letter dated 31.07.2022.
5. To be noted, the above-captioned writ petition concerns Assessment Year (AY) 2015-16.
6. The
The court emphasized the importance of adhering to the original allegation in the notice and found the Assessing Officer's conclusion regarding fair market value to be erroneous, leading to the setti....
The central legal point established in the judgment is the importance of correct assessment by the Assessing Officer and the disclosure of transactions in the Return of Income (ROI) for the assessmen....
Proceedings initiated based on risk management strategy, valuation of shares to be determined by the assessing officer.
A show cause notice under Section 148A(b) of the Income Tax Act must contain specific allegations of income escapement; its absence renders the assessment invalid.
The principle of consistency in reasons for reopening assessments is crucial in determining the sustainability of notices issued under the Income Tax Act.
Notices issued under the Income Tax Act must provide clear and specific information to the assessee, and vagueness or lack of clarity may lead to their quashing.
Point of Law : Assessment - Unless any income chargeable to tax has escaped assessment for such assessment year by reason o f the failure on the part of the assesse to disclose fully and truly all ma....
The Assessing Officer must provide adequate reasoning for reassessment actions and ensure compliance with natural justice principles.
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