TMI Blog2014 (5) TMI 557X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act - The assessee has an opportunity to explain the same by filing the reply to the notices or during the proceedings u/s 147 of the Act – Decided against Assessee. - Writ Tax No. - 274 of 2000, Writ Tax No. - 273 of 2000 - - - Dated:- 16-5-2014 - Hon'ble Tarun Agarwala And Hon'ble Dr. Satish Chandra,JJ. For the Petitioner : S. D. Singh, Krishna Dev Vyas,S. P. Gupta For the Respondent : A. N. Mahajan, B. J. Agarwal ORDER (Delivered by Dr. Satish Chandra,J.) By this writ petition (amended) the assessee has made following prayers. (I) issue a writ, order or direction in the nature of certiorari and to quash the order dated 23.3.2000 passed by learned Joint Commissioner of Income Tax, Range-I, Kanpur ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he discrepancy. The creditors are liable and not the debtors. For the purpose he relied the ratio laid down in the following cases:- 1. Satyamangalam Agricultural Producer's Co-operative Marketing Society Ltd. Vs. Income-TAx Officer [2013] 357 ITR 347 (Mad.); 2. Sahara India (Firm) Vs. Commissioner of Income-Tax and another [2008] 300 ITR 403 (SC); 3. Income-Tax Officer, I Ward, Distt. VI, Calcutta, and others Vs. Lakhmani Mewal Das. [1976] 103 ITR 437 (SC); 4. Indra Prastha Chemicals Pvt. Ltd. and others Vs. Commissioner of Income- Tax and another [2004] 271 ITR (All.); 5. M.L. Shukla Co. Vs. The Sales Tax Officer, Sector 17, Kanpur [1981 U.P.T.C. 396]; 6. The General Electric Company of India Ltd., the Mall, Kanpur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the discrepancies were communicated to the petitioner, but no reply is received. To support his arguments, he relied on ratio laid down in the case of GKN Driveshafts (India) Ltd. Vs. I.T.O. [2003] 259 ITR 19 SC'. Lastly, he justified the impugned notices. We heard both the parties at length and gone through the materials available on record. From the record, it appears that assessee prima-facie has reduced its tax liability by escalating the debit and other expenses in the book of accounts. For the purpose, the department has verified the information under Section-133(6) of the Act. After receiving the information, the discrepancies were recorded in detail and mentioned in the impugned notice which comes to tune of Rs. 24,65,238/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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