Back
RAJIV SHAKDHER, GIRISH KATHPALIA
Dhiru Realestates Private Limited – Appellant
Versus
Income Tax Officer, Ward 7(1), Delhi – Respondent
JUDGMENT
Rajiv Shakdher, J. (Oral)
CM Appl. 30843/2023
1. Allowed, subject to just exceptions
W.P.(C) 8013/2023 & CM Appl. 30842/2023 [Application filed on behalf of the petitioner seeking interim relief]
2. Issue notice.
2.1. Mr Zoheb Hossain, learned senior standing counsel, accepts notice on behalf of the respondents/revenue.
3. Given the directions that we propose to pass, Mr Hossain says that he does not wish to file a counter-affidavit in the matter and he will argue the matter based on the record presently available with the court. Therefore, with the consent of the learned counsels for the parties, the writ petition is taken up for hearing and final disposal, at this stage itself.
4. This writ petition concerns Assessment Year (AY) 2019-20.
5. The principal allegation levelled against the petitioner in the notice dated 29.03.2023 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, "Act"], is that investigation carried out qua the subject bank account had revealed that it registered credit entries to the tune of Rs.7,26,63,153/-; which remained unexplained and undisclosed.
5.1. In response to the said notice, the petitioner, concededly, filed a reply and to
The court emphasized the importance of ensuring that allegations made by the Assessing Officer are put to the petitioner and that the next steps are taken in accordance with the law.
The court emphasized the importance of the AO seeking explanations before considering investments as unexplained, especially when the focus of the allegations had shifted.
The central legal point established in the judgment is the requirement for actionable material and the significance of discrepancies in assessment proceedings under the Income Tax Act, 1961.
S.69A inapplicable to book-recorded credits with proved identity, source; reassessment invalid on factually incorrect information.
The central legal point established in the judgment is the requirement for accurate and substantiated information to trigger reassessment proceedings under the Income Tax Act, and the court's authori....
The court emphasized the necessity for thorough examination of evidence prior to issuing assessment notices under the Income Tax Act, reinforcing the principle that decisions must be based on substan....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
