Case Law Details
Ambika Kapur Vs ACIT (Delhi High Court)
Court finds that the primary allegation in the notice issued under Section 148A(b) of the Act is that the petitioner has not filed ITR for the assessment year 2018-19. However, as the said fact has been rebutted by the petitioner, the Assessing Officer should have given a finding with regard to this fact at least in the order passed under Section 148A(d) of the Act. Further, as it is the petitioner’s case that all the high value transactions have been reported by the petitioner in its return of income and is willing to place on record the sale/purchase deed before the Assessing Officer, this Court sets aside the impugned order passed under Section 148A(d) of the Act as well as the notice issued under Section 148 and remands the matter back to the Assessing Officer for a fresh decision in accordance with law. It shall be open to the Assessing Officer to issue a supplementary notice explaining in detail the transactions, which were allegedly not reported by the petitioner totalling to Rs.3,79,08,575/-, within two weeks. The petitioner is also directed to file the sale/purchase deed as well as a supplementary reply, if required, with the Assessing Officer within four weeks. The Assessing Officer is directed to pass a fresh order under Section 148A(d) of the Act within four weeks thereafter in accordance with law.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
1. Present writ petition has been filed challenging the order dated 21st April, 2022 passed under Section 148A(d) of the Income Tax Act, 1961 (‘the Act’) along with notice dated 21st April, 2022 issued under Section 148 of the Act for the assessment year 2018-19 and proceedings initiated pursuant thereto.
2. Learned counsel for the Petitioner states that the Respondent initiated the proceedings under Section 148A of the Act on the basis of an incorrect assumption of fact that the petitioner had not filed her return of income and hence income to the tune of Rs.30,57,78,545/- in relation to financial transactions entered by the Petitioner during the year, had escaped assessment.
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