TMI Blog2019 (7) TMI 275X X X X Extracts X X X X X X X X Extracts X X X X ..... contention as the sphere and operation of Section 24 of the Benami Act and Section 147 are completely different. Section 24 of the Benami Act and the subsequent provisions are for the purpose of coming to conclusion as to whether the property in question is to be treated as benami property whereas operation of Section 147 and the subsequent provisions, viz. Sections 148 to 153 would be operating while the process for assessing or reassessing of the income is undertaken by the concerned officer. Therefore, contention of passing a separate speaking order to the objections raised cannot be accepted. When the petitioner filed reply to the show cause notice on 18.04.2019, there is nothing in such reply which can be termed to be objection ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional attachment order was passed under Section 24(3) of the Benami Act on 20.03.2019 and show cause notice under Section 24(1) was issued to one Mr.Yogeshmumar More and copy was furnished to the petitioner according to the provisions of Section 24(2) of the Benami Act. The petitioner was asked to submit explanation. The petitioner sought adjournment for some period which was granted. The petitioner also requested for copies of certain statements recorded under Section 19 of the Benami Act. Ultimately, on 18.04.2019, the petitioner filed a detailed reply to show cause notice under Section 24(2) of the Benami Act and on 30.04.2019, wrote letter requesting respondent No.1 to dispose of the objections raised by the petitioner by a separate spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d documents on record, it appears that the petitioner had filed return on 07.11.2017 declaring income of ₹ 6,30,050/-. The assessment order under Section 143(3) read with Section 153-A of the Income Tax Act was passed on 31.12.2018, where the Assessing Officer was pleased to make addition of ₹ 5,51,74,772/-. One particular transaction involving M/s.Raj Enterprise (Proprietor Yogesh More) was scrutinized and it was found that the transaction involved deposit of old high demonetized notes. The Department had reason to believe that the transaction is not genuine and that against such transfer of money by RTGS, for deposit of high number of unaccounted cash in old high demonetized notes, there was no actual delivery of gold bars and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vits and evidences from other means. It can be gathered that under the communications entered previous to the reply, the petitioner was supplied certain documents in the form of statements and /or affidavits. However, in the reply to the show cause, the petitioner had specifically mentioned that the petitioner is not provided full copies of the statements of various persons, affidavits and evidences, which is in violation of principles of natural justice. The remaining part of the reply dated 18.04.2019 is narrating case of the petitioner on merits and raising his defences. To this Court, there does not appear to be any preliminary objection which the petitioner has raised in the reply to the show cause notice. The Court has also perused su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax Act and it was held that when the notice under Section 148 of the Income Tax Act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing of notice. The Assessing Officer is then bound to furnish reasons and on receipt of such reasons, the noticee is entitled to file objections to issuance of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order. This contention and reliance upon the judgment of the Apex Court is made by contending that Section 24(1) of the Benami Act and Section 147 of the Income Tax Act are adopting the same language and therefore, are parimateria. The Court is unable to accept such contention as the sphere a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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