Delhi High Court - Orders
Bharat Bhushan Kumar vs Assistant Commissioner Of Income Tax ... on 10 October, 2022
Author: Manmohan
Bench: Manmohan, Manmeet Pritam Singh Arora
$~2
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 13876/2022
BHARAT BHUSHAN KUMAR ..... Petitioner
Through: Mr.Gautam Jain with Mr.Ajit Kumar
Jha and Mr.Piyush Kumar Kamal,
Advocates.
versus
ASSISTANT COMMISSIONER OF INCOME TAX AND ANR.
..... Respondents
Through: Mr.Ruchir Bhatia, Sr.Standing
Counsel for the Revenue.
CORAM:
HON'BLE MR. JUSTICE MANMOHAN
HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA
ORDER
% 10.10.2022 C.M.No.42402/2022 Exemption allowed, subject to all just exceptions. Accordingly, the application stands disposed of. W.P.(C) No.13876/2022 & C.M.No.42401/2022 Present writ petition has been filed challenging the order passed under Section 148A(d) of the Income Tax Act, 1961 ('the Act') and the notice issued under Section 148 of the Act, both dated 30th July, 2022, for the Assessment Year 2013-14.
Learned counsel for the petitioner states that the reasons recorded in the impugned order are factually incorrect and based upon the information on the insight portal without verifying earlier assessment record. He states Signature Not Verified Digitally Signed By:JASWANT SINGH RAWAT Signing Date:11.10.2022 17:26:43 that with respect of allegation that the petitioner has unexplained transactions with M/s Heavens Infratech Pvt Ltd and Mint India Fincap Pvt. Ltd amounting to Rs.7,15,00,000/- during the year under consideration, the petitioner had already disclosed these loans along with identity, address and creditworthiness of the lenders during the course of security assessment proceedings. He further states that the petitioner had filed complete details along with reply dated 16th September, 2017 wherein it had furnished the ledger accounts of loans and detailed documents of the lenders and after duly examining the same, the Assessing Officer in his order passed under Section 153A of the Act had accepted the loan transactions.
Issue notice. Mr.Ruchir Bhatia, learned senior standing counsel accepts notice on behalf of the respondents-revenue. He prays for and is permitted to file a counter affidavit within eight weeks. Rejoinder affidavit, if any, be filed before the next date of hearing.
List on 25th April, 2023.
Though the Assessing Officer is permitted to pass the assessment order, yet it is directed that the same shall not be given effect to and shall be subject to further orders to be passed by this Court.
MANMOHAN, J MANMEET PRITAM SINGH ARORA, J OCTOBER 10, 2022 KA Signature Not Verified Digitally Signed By:JASWANT SINGH RAWAT Signing Date:11.10.2022 17:26:43