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2020 (10) TMI 944 - PATNA HIGH COURT - Income Tax
Head Note / Extract:
Reopening of assessment - Penalty u/s 271AAC - unexplained income u/s 69 (A) - 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.