Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 128 - ORISSA HIGH COURTReopening of assessment u/s 147 - order passed under Section 148A(d) based on material available on record or not? - in response to the notice the petitioner-assessee has filed its revised return in Form ITR-6 - HELD THAT:- As in the instant case, the petitioner has not furnished objection to the notice issued under Section 148A of the IT Act. Therefore, this Court finds that no case is made out by the petitioner for interfering with the issue of notice under Section 148 by the Adjudicating Authority after taking decision to initiate proceeding on passing order under Section 148A(d) of said Act. Assessing Officer reached the conclusion ‘reason to believe’ and approval was accorded by the learned Principal Commissioner of Income-tax for reopening of assessment thereby giving the assesse an opportunity to rebut and meet the points that the documents/materials based on which such a conclusion is reached is not in fact correct - In this respect it would be apt to say that the petitioner is required to participate in the assessment proceeding and produce materials and documents like books of account, vouchers, invoices, etc. maintained in terms of statutory requirement before the Assessing Authority so as to rule out manipulation. Since the petitioner has already filed revised return for the Assessment Year 2018-19 in compliance of the terms of notice under Section 148, the Assessing Officer is required to verify the books of account of the relevant year and examine any other evidence adduced by the petitioner with reference to the materials available in record. While doing so, he will confront the adverse material, if any, he wishes to utilize against the assessee-petitioner and record a preliminary statement with regard to such verification. He may also record statement whether the alleged transactions are incorporated in the regular books of account/statements on the basis of which returns have already been filed. After such verification, if he comes to the conclusion that the petitioner is liable to be levied with tax, he shall allow the petitioner to take copy of such materials which he wants to utilize against the petitioner. Needless to say that the petitioner shall be allowed reasonable opportunity for stating its case, which shall be considered by the Assessing Officer in the order of assessment. The petitioner for the purpose of assessment may participate in the proceeding initiated under Section 148 of the IT Act and no unnecessary adjournment shall be granted.
|