Just a moment...

Report
FeedbackReport
Welcome to TaxTMI

We're migrating from taxmanagementindia.com to taxtmi.com and wish to make this transition convenient for you. We welcome your feedback and suggestions. Please report any errors you encounter so we can address them promptly.

Bars
Logo TaxTMI
>
×

By creating an account you can:

Feedback/Report an Error
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home /

2015 (4) TMI 265

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....his writ petition briefly stated are, that petitioner submitted his return of income for the assessment year 2009-10 on 23.06.2009 declaring his income at Rs. 3,79,200/-. The said return was accepted. Subsequently, notice under Section 148 of the Act was issued on 30.06.2014 for re-opening the assessment. In response, petitioner requested the respondent that the return filed earlier could be treated as return in response to the notice. Thereafter, respondent concluded the assessment on 30.06.2014 by adding a sum of Rs. 13,72,380/- which is stated to be the amount pertaining to certain shares purchased by the petitioner out of the income that had allegedly escaped assessment. Accordingly, tax and interest has been levied by the respondent. I....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tiated. He also points out by way of objection that in the absence of specific allegations made against the petitioner in the so-called sworn statement, the same could not have been made basis to pass the assessment order against the petitioner. 5. Despite such objections raised, respondent has proceeded to pass the impugned order holding that an amount of Rs. 13,72,380/- which reflected the sale proceeds of shares was required to be brought to tax under the head 'Other Sources of Income'. It is this amount which according to the findings recorded by the respondent was attributed to the petitioner in the so-called sworn statement given by Mukesh Choksi. 6. Thus, it is apparent that without furnishing a copy of the statement stated....