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2023 (4) TMI 956 - BOMBAY HIGH COURTReopening of assessment u/s 147 - unexplained investments under Section 69 - initiating penalty proceedings under Section 271(1)(c) - assessee had neither filed any return of income nor offered any income for taxation in respect of the transaction regarding purchase of immovable property, the assessee had not replied to the notices issued under Section 142(1) - HELD THAT:- Petitioner did file a return of income in response to the notice issued under Section 148 of the Act and had also furnished appropriate responses and material pursuant to the notices issued under Section 142(1) by the Jurisdictional A.O.. After the case of the Petitioner was transferred to the A.O. of Ward 3(3)(1), Mumbai dealing with the international taxation, the information which was already sought for and submitted, was called yet again. Revenue has not been successful in satisfying us as to whether the information which was required to be furnished pursuant to the notices issued by the A.O. of Ward 3(3) (1), Mumbai, dealing with the international taxation was not already on record and if it was then the same ought to have been considered. An inadvertent error committed by the Petitioner in reflecting that the return of income had been filed under the category ‘u/s 119(2)(b)’ instead of selecting the option ‘u/s 148’ could have been treated to be a return validly filed by invoking the provisions of Section 292B of the Act especially when the Petitioner claims that the mistake was brought to the notice of the concerned A.O. at the appropriate stage. Matter requires to be reconsidered by the concerned A.O. by treating the return of income filed by the Petitioner as a return of income filed in terms of the notice under Section 148 of the Act and treat the said return as valid. We also direct that the material on record be considered and if there is any other information which is required by the A.O. the same may be called for specifically from the Petitioner. Fresh orders be passed in accordance with law preferably within three months from today.
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