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2022 (5) TMI 117 - HC - Income TaxReopening of assessment u/s 147 - diversion of interest bearing funds - entire amount given to his son by the petitioner, the interest has not been charged whereas the cash credit bank account from which amount was transferred to his son, the assessee had paid interest @ 14.33 per annum - HELD THAT:- The objections were duly disposed of by the Assessing officer. The order disposing of the objections is also detailed one. It was stated that notice dated 28.03.2017 was issued after obtaining sanction from the competent authority. The judgment cited by the assessee was also duly discussed and considered by the Assessing officer. It is the settled proposition that the writ jurisdiction of the court is to be exercised under certain well established principles. The courts should exercise their writ jurisdiction very sparingly if there is ‘alternative efficacious remedy’. The petitioner cannot be allowed to short circuit the procedure merely out of convenience. If a statutory forum is created by law for redressal of grievances, a writ petition should not be entertained ignoring the statutory dispensation. In Raymond Woolen Mills Ltd. [1997 (12) TMI 12 - SUPREME COURT] it was inter alia held that at the time of initiating the proceedings under Section 147 of the Act, the assessing officer has to only examine whether there is prima facie material on the basis of which the assessment should have been reopened. The Supreme court has held that at this stage the court is only required to see whether there was prima facie some material on the basis of which the department could reopen the case. The sufficiency of the correctness of the material is not a thing to be considered at the stage. We consider that there was sufficient material on the record for reopening/re-assessment of the case of the petitioner for the concerned assessment year. This court is not making any comment on the merits of the case. The assessee will have complete right to put up his case before the assessing officer. We consider that there is no violation of the principles of the natural justice. The revenue department has followed the procedure prescribed by the law. We consider there is no ground to interfere at this stage. Hence the petition is dismissed.
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