JUDGMENT :

(PER : HONOURABLE MR. JUSTICE PRANAV TRIVEDI)

1. Heard learned advocate Mr. Jimi Patel, for learned advocate Mr. Manish Shah for the petitioner and learned Senior Standing Counsel Mr. Karan Sanghani for the respondents.

2. Having regard to the controversy involved which is in narrow compass, with the consent of the learned advocates for the respective parties, the matter is taken up for hearing.

3. Rule returnable forthwith. Learned Senior Standing Counsel Mr. Karan Sanghani waives service of notice of rule.

4. By this petition under Article 226/227 of the Constitution of India, the petitioner has challenged assessment order dated 30.5.2023 passed by Respondent No.1 under Section 147 read with Section 144B of the INCOME TAX ACT , 1961 (For short “the Act”) and subsequent demand notice dated 30.5.2023 issued to the petitioner.

5. The brief facts are as under:

6. The petitioner filed return of income for the Assessment Year 2014-2015 on 30.7.2014.

7. A notice dated 29.06.2021 was issued under Section 148 of the Act under the provisions of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (For short “TOLA”).

8. Pursuant to the decision of the