Case Law Details
Saraswati Petrochem Pvt. Ltd. Vs ITO (Delhi High Court)
Delhi High Court quashes notice u/s 148 for AY 2011-12, emphasizing lack of tangible material. Learn key insights on reassessment proceedings.
Introduction: The writ petition against proceedings under Section 148 of the Income-tax Act, 1961 involves Saraswati Petrochem Pvt. Ltd. challenging the initiation of assessment/reassessment for AY 2011-12. The AO issued the impugned notice based on a belief that income had escaped assessment.
AO’s Obligation to Furnish Material: The AO is obligated to provide material supporting the belief that income has escaped assessment. The petitioner, however, argued that key documents, including the communication dated 12.03.2018 and the FIR, were not furnished.
Entitlement to Relevant Copies: The assessee asserted the right to receive copies or relevant extracts from the communication between AO and another authority. The lack of disclosure of relevant documents, including the FIR, became a crucial point in the analysis.
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