2022 (2) TMI 81
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....ve that petitioner's income chargeable to tax has escaped assessment, within the meaning of Section 147 of the Act. In the reasons recorded for escapement of income, paragraph No.2 reads as under :- "2. In the case of assessee there was information received form the Pr. Director of Income-tax (Investigation), Kolkata vide letter dated 30.6.2016 and conveyed that credible information was received that Mr. Sunil Shaw, Mr. Sailesh Kumar Singh, Mr. Ramu Saha, Mr.Gautam Saha and Mr.Madhusudhan Saha maintain various current account in the name of different firms/concerns/companies. They have declared trading as business activity. There were high value cash deposits in these accounts and the proceeds were immediately withdrawn in cash from ATMs,....
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....s also stated the names of dummy Director of these companies who are his employees who lent their names for directorship in lieu of monthly salary. They are Madhusudhan Saha, Goutam Saha, Dilip Jain, Santosh Kumar, Prakash Jha. From the examination of more than 16 bank accounts, it is seen that the accounts were being used for providing accommodation entries to various beneficiaries in the form of bogus sale of shares, share capital, unsecured loans, providing bogus income and losses from commodity trading etc., from various companies running directly under the control of Neeraj Jain, Vineet Kejriwal, Sanjay Agarwal, Aswin Meha. It was found that the cash was first deposited in the accounts of the proprietorship / firm/ individual's bank ac....
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....ons along with an Affidavit of one Kishore J. Tanna, Director of Petitioner stating that petitioner had nothing to do with M/s Skylark Logistics Agencies Pvt. Ltd. and petitioner never had any bank account with Indusind Bank as alleged in the reasons recorded for escapement of income. Mr. Gandhi submitted that after considering this affidavit and objection, an order dated 24th May 2019 was passed for Assessment Year 2012-13 confirming the validity of notice issued under Section 148 of the Act and assessment order dated 4th December 2019 for Assessment Year 2012-13 came to be passed. Mr. Gandhi further submitted that in the assessment order for Assessment Year 2012-13 respondents have accepted the explanation of petitioner that petitioner h....
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....s case and after going into the legality and propriety thereof, to quash and set aside the said notice dated 30th March 2021 ("Exhibit K") and the subsequent Order dated 06th July 2021 ("Exhibit O"). 8. Petition disposed. WRIT PETITION NO. 284 OF 2022 9. For the reasons recorded in Writ Petition No.3089 of 2021, this Petition is also allowed in terms of prayer clause - (a), which reads as under: "(a) that this Hon'ble Court may be pleased to issue a Writ of Certiorari or a Writ in the nature of Certiorari or any other appropriate Writ, Order or direction, calling for the records of the Petitioner's case and after going into the legality and propriety thereof, to quash and set aside the said notice dated 30th March 2021 ("Exhibit K") an....