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2023 (8) TMI 725 - KARNATAKA HIGH COURTValidity of third respondent’s assessment order u/s 143(3) - seeking directions to the fourth respondent to lift the attachment of his bank account - HELD THAT:- As in the peculiarities of this case viz., the petitioner has appeared before the assessing officer after issuance of notice u/s 144 of the Act and has filed financials, if the reassessment is reframed under Section 143(3) of the Act upon examination of all questions there would be no room for the grievance that the proceeding, which is begun for the best judgment assessment, has resulted in an order under Section 143(3) of the Act. On a careful consideration of the submissions, and the undisputed fact that the balance is about Rs. 1,25,00,000/- this Court is of the view that the third respondent must reframe the assessment order for the relevant year expeditiously within a time frame and the petitioner until then should be permitted to operate his account with M/s Kotak Mahindra Bank subject to maintaining a certain reasonable minimum balance. Order:- Writ petition is allowed in part and the third respondent’s assessment order u/s 143(3) of the Income Tax Act, 1961 is quashed. The third respondent shall reframe assessment for the assessment year 2021-22 within six [6] weeks from the petitioner’s first date of appearance after this order with due opportunity to the petitioner. The petitioner until then is permitted to operate his account with M/s Kotak Mahindra Bank subject to maintaining a minimum balance of Rs. 75,00,000/-. The petitioner without further notice shall appear before the third respondent on 05.04.2023.
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