Case Law Details
Malvika Atul Shah Vs ITO (Gujarat High Court)
Gujarat High Court dismissed the petition as being prematured. It is directed to dispose the objections raised by petitioner by the concerned authority.
Facts- The petitioner is engaged in the business of trading in shares who has filed return of income for the year under consideration declaring the total income as nil on 21.09.2015. The notice dated 30.03.202 1 was received seeking to reopen the case of the petitioner. It is the say of the petitioner that the reasons for reopening had been received on 28.05.2021 which were broadly on the count that the petitioner has claimed bogus LTCG on penny stock transaction and the petitioner has claimed the amount of Rs. 90,37,264/- on penny stock transaction during the year under consideration.
The objections have been raised on 14.06.2021, however, they were not disposed of and the patience of the petitioner had veered off, therefore, he approached this Court seeking to challenge the impugned notice.
Conclusion- Petition being prematured, this Court chooses not to entertain it at this stage. Let the disposal on the strength of the objections raised by the petitioner be made by the authority concerned within two weeks from the date of receipt of copy of this order, on availing opportunity in accordance with law.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
