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2018 (2) TMI 1377 - HC - Income TaxReopening of assessment - Held that:- According to the department, there are documents suggesting that there are TDS transactions concerning the firm for the period relevant to the assessment year in question. More importantly, during the course of a search against two individuals, name of the firm was found. There were documents indicating that the assessee had entered into huge cash loan transactions. The ledger account itself showed cash credit to the tune of ₹ 3.38 crores (rounded off) and debit of ₹ 2.28 crores (rounded off). There are as many as 20 entries of cash loan transactions in the name of the assessee in the ledger account for the period relevant to the assessment year 2010-11. It was also noted that despite such transactions, they have still not filed a return of income. All these are primarily factual aspects and cannot be gone into in the writ petition. It would be always open for the petitioner to establish that these transactions do not concern the petitioner or that the transactions are well explained. Whatever be the petitioners defence must be raised before the Assessing Officer during such assessment proceedings and not before this Court in a writ petition.
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