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2023 (10) TMI 978 - HC - Income TaxReopening of assessment u/s 147 - refusal to grant the benefit u/s 11 and 12 - total receipts is to be treated as an income of the petitioner as per Section 164 since the petitioner is not registered under Section 12 AA - HELD THAT:- Principal Chief Commissioner of Income Tax has proceeded to pass an order u/s 148A(d) rejecting the objection of the petitioner to the show cause notice u/s 148A(b) on the ground that information exists to suggest that the transaction needs to be verified. Hence the reply of the assessee has been considered but the same is not found to be satisfactory. The assessee has not offered his unaccounted unexplained income for taxation purpose in his return of income. It is precisely evident that the office of the respondent is possessed of certain information which strongly suggests that the income chargeable to tax has escaped assessment for AY 2017-18. Thus, in our opinion, the impugned order u/s 148A(d) and notice u/s 148 would not warrant any interference under Article 226 of the constitution of India as challenge to such order would be available to an assessee while challenging the order passed in reassessment proceedings consequent to the notice issued u/s 148 - WP dismissed.
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