Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (9) TMI 41 - HC - Income TaxReopening of assessment u/s 147 - sale of the impugned property was duly recorded as the turnover of the Petitioner and a penalty u/s 271D read with Section 269SS - HELD THAT:- This Court is of the view that the impugned order does not consider the contention of the petitioner that the amount received as consideration for the property has already been disclosed by the petitioner in its return and that the said fact had been admitted by the authorities in the penalty order passed under Section 271D - fact that TDS on the sale consideration was duly reflected in the Form 26AS as well as in the Income Tax Return has not been examined. Consequently, the impugned order under Section 148A(d) and the impugned notice under Section 148 of the Act, both dated 30th July, 2022 are set aside and the matter is remanded back to the Assessing Officer for a fresh decision. Petitioner is given liberty to file amended/additional reply to the notice issued under Section 148 of the Act within four weeks. The Assessing Officer is directed to pass an order under Section 148A(d) of the Act within four weeks thereafter in accordance with law.
|