TMI Blog2022 (5) TMI 1352X X X X Extracts X X X X X X X X Extracts X X X X ..... y, this Court is of the view that the principles of natural justice have been violated on the present case. Accordingly, the show cause notice dated 21st March, 2022 issued under Section 148A(b), the order dated 27th March, 2022 issued under Section 148A(d) and the notice dated 27th March, 2022 issued under Section 148 of the Act for the Assessment Year 2018-19 are quashed. If the law permits the respondents/revenue to take further steps in the matter, they shall be at liberty to do so. Needless to state that if and when such steps are taken and if the petitioner has a grievance, he shall be at liberty to take his remedies in accordance with law. - W.P.(C) 6880/2022 & CM APPLs.20953-20954/2022 - - - Dated:- 25-5-2022 - HON BLE MR. JU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... served upon the Petitioner. 5. Learned Counsel for the Petitioner states that the Petitioner has not claimed any LTCGs on the shares of M/s Achal Investments Ltd. during the Assessment Year 2018-19. He states that the LTCG on shares of M/s Achal Investments Ltd. pertains to the Assessment Year 2015-16 and the same has already been assessed under Section 143(3) of the Act vide order dated 29 th December, 2017 by ACIT, Circle-70(1) and thereafter, the assessee had opted for Vivad se Vishwas Act. He states that the Petitioner had not only submitted his response, but also uploaded all the relevant documentary evidences on 22nd March, 2022. 6. Learned Counsel for the Petitioner also states that the order dated 27 th March, 2022 under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipt of accommodation entries from Shri Naresh Jain and entities controlled by him. 10. With regard to the reassessment proceeding for the Assessment Year 2015-16, the short affidavit states that the Petitioner s contention was found to be correct and on the basis of the information on record, it was concluded that there was no case of escapement of income made out in the Assessment Year 2015-16. 11. The Respondent in its short affidavit admits that due to technical glitches the annexure accompanying the notice dated 21st March, 2022 issued for the assessment year 2018-19 as prepared by the Assessing Officer was not served upon the petitioner and was replaced with the annexure relating to the assessment year 2015-16 . 12. The short ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
