Vasuki Global Industrial Limited Vs Principal Chief Commissioner of Income Tax & Ors (Gujarat High Court)
Gujarat High Court held that reassessment on the basis of information made available on Insight Portal without verification of information by jurisdictional Assessing Officer is invalid in law. Accordingly, writ disposed of.
Facts- The present petition has been filed by the petitioner. It is contested that the respondent-Income Tax Department has relied upon the information available on Insight Portal by sending notices to the suppliers of the petitioner for re-opening considering the report received from the GST Department which was later on corrected by the GST Department exonerating the petitioner from any lapses under the provisions of the GST Act. However, the Income Tax Department continued the re-assessment proceedings of various assessee who are suppliers of the petitioner on the basis of the information which was available on the Insight Portal.
Read Interim Order of SC in this case: SC to Examine Whether Verification Requirement Survives Section 148A Amendment
The petitioner therefore received the feedback from the suppliers, and the suppliers have stopped transacting the business with the petitioner. The petitioner therefore drew the attention of the respondent-Income Tax Department and corrective steps have been taken by the respondent-Income Tax Department to see that no re-assessment is made in the case of the suppliers of the petitioner on the basis of the information relating to the petitioner which was made available on the Insight Portal.
