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2020 (10) TMI 1330 - HC - Income TaxPenalty proceeding u/s 271AAC - unexplained income u/s 69 (A) - action of the Respondent Income Tax Officer in rejecting the explanation offered by the petitioner - petitioner, argues that the order passed is cryptic in nature as also the Officer has not assigned any reason for carrying out re- assessment in the case of the petitioner - HELD THAT:- We are of the considered view that all material facts necessary for adjudication were recorded and considered by the Officer and as such the order cannot be said to be in violation of principles of natural justice, even though it may be short in nature. Since disputed questions of fact are raised before us, we refrain from adjudicating the same, reserving liberty to the petitioner to prefer a statutory appeal which is an equally efficacious remedy. As such, present petition stands disposed of. At this stage, learned counsel for the petitioner submits that limitation may not come in the way of adjudication of the appeal. Shri Rishi Raj Sinha, learned counsel for the Income Tax Department, states that if an appeal is preferred within a period of four weeks from today, the issue of limitation shall neither be raised nor allowed to come in the way of adjudication of the appeal on merits, more so keeping in view current Pandemic Covid-19. Statement is accepted and taken on record. Shri Rishi Raj Sinha, learned counsel appearing for the Income Tax Department, states that as on date no coercive action stands taken against the petitioner in terms of the demand raised pursuant to the passing of the impugned order and that position would be allowed to be maintained if the petitioner were to file an appeal within a period of four weeks from today.
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