TMI Blog2021 (5) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... personal hearing was sought by the petitioner, the same was not granted by the AO. Given these circumstances, we are of the view, that the petitioner has been able to establish, at least at this stage, a prima facie case in its favour. Accordingly, issue notice. Mr. Hossain accepts service on behalf of the respondents/revenue. - W.P.(C) 4814/2021 - - - Dated:- 3-5-2021 - HON'BLE MR. JU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the principles of natural justice, and therefore, the impugned assessment order deserves to be quashed. In this behalf, Mr. Lakshmikumaran has alluded to the following dates and events: (i) Show cause notice was issued to the petitioner on 01.03.2021, along with the draft assessment order of even date. As per the said show cause notice, the petitioner was required to file a response by 08.03.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as made an addition to the petitioner s declared income of ₹ 9,56,00,000/- under Section 68 of the Income Tax Act, 1961 (in short the Act ) concerning the assessment year 2018-2019. The addition has been made on account of purported unexplained, unsecured loans. 3.1. It is Mr. Lakshmikumaran s contention that, the petitioner had, via the material placed before the AO, along with its repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018. 5. Be that as it may, it is quite evident that the AO has not taken into account the explanation and the material placed before him by the petitioner, along with its reply dated 12.03.2021. This aspect is brought to fore, if one were to peruse paragraph 4 of the impugned assessment order. For the sake of convenience, the same is extracted hereinafter: 4. Before finalizing the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this stage, a prima facie case in its favour. 7. Accordingly, issue notice. Mr. Hossain accepts service on behalf of the respondents/revenue. 7.1. Let the counter-affidavit be filed within three weeks from today. Rejoinder thereto, if any, will be filed before the next date of hearing. 8. In the meanwhile, there shall be a stay on the operation of the impugned assessment order till furth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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