Raajratna Stockholdings Pvt. Ltd. Vs ACIT (Gujarat High Court)
Gujarat High Court held that AO couldn’t assume jurisdiction to reopen assessment, without forming independent opinion, solely and mechanically relying upon the information received from the other sources. Accordingly, reopening u/s. 148 quashed.
Facts- By this petition under Article 226 of the Constitution of India, the petitioner has challenged a notice dated 30.03.2021 for reopening of assessment for A.Y.2013-14 issued under section 148 of the Income Tax Act,1961.
Conclusion- Held that the respondent-Assessing Officer could not have assumed the jurisdiction merely and solely relying upon the information made available on the insight portal without forming any independent opinion on the basis of the material on record vis-a-vis the petitioner is concerned. The petition therefore, succeeds and is accordingly allowed. Impugned notice dated 30.03.2021 issued under section 148 of the Act is hereby quashed and set aside.
FULL TEXT OF THE JUDGMENT/ORDER OF GUJARAT HIGH COURT
1. Heard learned Senior Advocate Mr. Tushar Hemani with learned advocate Ms. Vaibhavi Parikh for the petitioner and learned Senior Standing Counsel Mr. Varun K.Patel for the respondent.
2. Having regard to the controversy arising in this appeal in narrow compass, with the consent of the learned advocates for the respective parties, the matter is taken up for hearing.
