Gujarat High Court
Narendrakumar Mansukhbhai Patel vs Income Tax Officer on 13 September, 2017
Author: Akil Kureshi
Bench: Akil Kureshi, Biren Vaishnav
C/SCA/16789/2017 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
SPECIAL CIVIL APPLICATION NO. 16789 of 2017
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NARENDRAKUMAR MANSUKHBHAI PATEL....Petitioner(s)
Versus
INCOME TAX OFFICER, WARD 1(2)(3)....Respondent(s)
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Appearance:
DARSHAN R PATEL, ADVOCATE for the Petitioner(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE AKIL KURESHI
and
HONOURABLE MR.JUSTICE BIREN VAISHNAV
Date : 13/09/2017
ORAL ORDER
(PER : HONOURABLE MR.JUSTICE AKIL KURESHI)
1. Petitioner has challenged a notice for reopening of the assessment year 201011. The return filed by the assessee to the said assessment year was accepted without scrutiny. However, taking us through the reasons recorded by the Assessing Officer for issuing notice, counsel submitted that the reasons are based on incorrect facts. According to the reasons, the assessee had shown a contrived loss of 14,93,607/ by misutilization of NMCE platform through the broker R.P.Jambuwala. Counsel took us through the documents on record and contended that in fact, the said figure Page 1 of 2 HC-NIC Page 1 of 2 Created On Sat Sep 16 18:44:06 IST 2017 C/SCA/16789/2017 ORDER of 14,93,607/ was not a loss shown by the assessee but was shown as receipts in the commodity speculation account.
2. NOTICE, returnable on 11.10.2017. The respondent Assessing Officer may continue with the assessment in connection with the impugned notice, final order thereon shall not be passed without the leave of the Court. Direct service is permitted.
(AKIL KURESHI, J.) (BIREN VAISHNAV, J.) ANKIT Page 2 of 2 HC-NIC Page 2 of 2 Created On Sat Sep 16 18:44:06 IST 2017