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2023 (1) TMI 1126 - HC - Income TaxProceedings u/s 43 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 - penalty proceedings initiated by the concerned officer against the petitioner for alleged failure to disclose foreign income/assets - petitioner was in employment of Vodafone Idea Ltd. and claims that he received stock options from the parent company i.e., Vodafone Group PLC - as contented no undisclosed foreign income or assets and therefore, the provisions of the 2015 Act have been wrongly triggered. HELD THAT:- This inquiry vis-à-vis the petitioner, as per the record which is made available to us, has been going on since 27.02.2019, when summons under Section 131(1A) of the Income Tax Act, 1961 [in short, “1961 Act”] were issued. Petitioner claims that he has filed not one, but three responses, setting out the details sought by the respondent/revenue. In this regard, reference is made to the replies dated 06.03.2019, 12.03.2019 and 05.04.2019, appended on pages 69, 77 and 79 of the case file. The record also shows that a summon was issued, once again, to the petitioner after nearly three years on 31.01.2022, under Section 131(A) of the 1961 Act; which was also replied to by the petitioner on 11.02.2022. Insofar as the 2015 Act is concerned, notice, in the first instance, under Section 8 of 2015 Act was issued on 11.07.2022, which was replied to by the petitioner on 16.08.2022. The impugned show cause notice, as indicated above, was issued on 12.09.2022. A reply to the same has been filed, which is dated 07.10.2022. Given the fact that the matter is at the stage of show cause notice, we are of the view that the best way forward would be to direct the concerned statutory authority to adjudicate the impugned show cause notice. Writ petition is disposed of directing concerned statutory authority to adjudicate the impugned show cause notice dated 12.09.2022, having regard to the response dated 07.10.2022 and the earlier replies which have been placed on record and referred to hereinabove. The adjudication will be undertaken as expeditiously as possible, though not later than eight (8) weeks from the date of receipt of a copy of this judgement. The concerned authority, however, before proceeding further, will issue notice to the petitioner and grant him and/or his authorized representatives, personal hearing in the matter.
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