Case Law Details
Indus Technical Education Society Vs Union of India (Allahabad High Court)
So far as unsecured loan of Rs. 28,53,439/ is concerned, the petitioner could not submit any credible evidence alongwith its reply to establish credit worthiness of the lender i.e. M/s Arrow Netmart Pvt. Ltd. Therefore, prima facie, the Assessing Authority had some relevant material before him to assume jurisdiction for initiating re-assessment proceedings under Section 147/148 of the Act, 1961. Thus, since the Assessing Authority has some relevant material in his hands, therefore, the impugned order under Section 148A(d) of the Act, 1961 cannot be said to be without jurisdiction or illegal.
FULL TEXT OF THE JUDGMENT/ORDER OF ALLAHABAD HIGH COURT
Heard Sri Abhinav Mehrotra, learned counsel for the petitioner, Sri Dinesh Varun, learned Central Government Standing Counsel appearing for the respondent no.1-Union of India and Sri Praveen Kumar, learned counsel appearing for respondent nos. 2, 3 and 4.
This writ petition has been filed praying for the following reliefs:
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