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2023 (5) TMI 1226 - HC - Income TaxReopening of assessment - legality and validity of notice u/s 148 and order u/s 148A(d) - unexplained loan transaction - HELD THAT:- It appears from record which AO has annexed to the notice u/s 148A(b) and order u/s 148A(d) that some of the documents which established the involvement of the petitioner in such type of transactions with the said Anil Kasera and there are names of many other persons who are involved in this type of transactions adopting same modus operandi. There is also finding of the assessing officer in the impugned order u/s 148A(d) that a sum representing in the form of entry or entries in the books of account (loan transaction) has escaped income in this case. All the aforesaid findings in the impugned order are based on material evidence which cannot be scrutinised by a writ court in exercise of its constitutional writ jurisdiction under Article 226 of the Constitution of India and be substituted with its own findings. Recently this Court has noticed that several writ petitions have been filed involving similar nature of huge unaccounted cash transactions where modus operandi is the same and involving the same broker Anil Kasera. This court, considering the nature of huge financial scam, is not inclined to entertain this writ petition by exercising its constitutional writ jurisdiction under Article 226 of the Constitution of India. Principal Chief Commissioner of Income Tax, West Bengal & Sikkim is directed to refer this case along with all other cases involving Anil Kasera where similar modus operandi has been adopted relating to unaccounted cash loan, to the Enforcement Directorate (ED) and file compliance report before this Court on 13th June, 2023.
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