CIT Vs. Pardesi Developers & Infrastructure Pvt. Ltd., W.P.(C) 5536/2012, Judgment delivered on: 16.01.2013, High Court of Delhi
Whether issue of notice u/s 148 for reopening of assessment u/s 147 on the reason that assessee company is involved in accommodation entry in valid ?
We find it difficult to believe the plea taken in the purported reasons that the said information was “neither available with the department nor did the assessee disclose the same at the time of assessment proceedings”. From the aforesaid facts it is clear that the information was available with the department and it had been circulated to all the assessing officers.
There is nothing to show that the assessing officer did not receive the said information. And, there is nothing to show that the assessing officer had not applied his mind to the information received by him. On the contrary, it is apparently because he was mindful of the said information that he issued notices under section 133(6) of the said Act directly to the parties to confirm the factum of application of shares and the source of funds of such shares. Therefore, the very foundation of the notice under section 148 of the said Act is not established even ex facie. Consequently, it cannot be said that the assessing officer had the requisite belief under section 147 of the said Act and, as a consequence, the impugned notice dated 30.08.2011 and the order dated 03.08.2012 are liable to be quashed.