9911796707
TMI Blog2022 (5) TMI 175X X X X Extracts X X X X X X X X Extracts X X X X ..... ent order dated 31.03.2022 under Section 143(3) read with Section 147 of the Income Tax Act, 1961 (hereinafter referred to as the 'Act, 1961') for the Assessment Year 2013-14 making addition of Rs.2,12,75,000/- to the total income of the assessee. 3. Learned counsel for the respondents has no objection to the aforesaid amendment application being allowed. 4. With the consent of learned counsels for the parties, the amendment application is allowed. Let the necessary amendments be incorporated within three days. Order on Writ Petition 5. The impugned notice dated 31.03.2021 under Section 148 of the Act, 1961 for the Assessment Year 2012-13 was issued by the assessing authority to the petitioner on the following allegation :- "I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration by the above modus operandi. In view of the above, I have reason to believe that income at least to the tune of Rs. 45,00,000/- has escaped assessment in terms of provisions of Section 147 of the I.T. Act, 1961. In order to remedy the same, the proceedings u/s 147 of the I.T. Act, 1961 are being proposed." 6. The assessee objected to the aforenoted reasons to believe recorded by the assessing authority by submitting objection dated 01.03.2022. The relevant portion of the objection relating to the aforesaid alleged information is reproduced:- "The reasons recorded by the AO are factually incorrect. It is incorrect and denied that during the year under consideration, the assessee company, M/s York Calltech Private Limited entere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs:- "1. In the case, information was received through data flagged by the Directorate, that the assessee M/s York Calltech Pvt. Ltd. brought back their unaccounted funds in his account during the year under consideration. On perusal of the records, it is found that the assessee company has amalgamated with M/s Uphill Farms Private Ltd. (PAN: AABCU5961G) w.e.f. 19.10.2015. Accordingly as per law and judicial pronouncement, the notice u/s 148 of the Act cannot be issued in the name of the assessee. Therefore, the notice u/s 148 was issued on the PAN of M/s Uphill Farms Private Ltd. being the resultant entity after amalgamation. .... 5. As per information available on record, the assessee has received credit entries of Rs.45,00,000/- f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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