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TMI Blog2022 (6) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... 4th March, 2022 (Annexure P-1), and notice issued under Section 148 of the Act, dated 7th April, 2022 (Annexure P-5) for the Assessment Year 2018-2019. 2. Petitioner, a Private Limited Company is an assessee under the Act. The return filed by the petitioner for the Assessment Year 2018-2019 dated 29th September, 2018 was processed under Section 143(1) of the Act. The petitioner received notice under Section 148A(b) on 14th March, 2022 (Annexure P-1) whereby he was intimated that income chargeable to tax for the Assessment Year 2018-2019 has escaped assessment. The details of the information and the inquiry forming basis for issuance of notice was also supplied along with the said notice. The notice was replied to vide Annexure P-3 raising ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es for conducting inquiry, providing opportunity before issuance of notice under Section 148. After receiving notice under Section 148, assessee is required to furnish return on his income within time period as specified in the notice. On his filing return, the Assessing Officer is required by the Statute to assess or reassess such income. It is only on such assessment or reassessment of the income by the Assessing Officer that the proceedings initiated can be said to have been concluded. Needless to say that any such order passed under Section 147 is further subject to appeal under Section 246-A of the Act. 6. The primary issue that arises in the present writ petition is :- "Whether at this stage of notice under Section 148, writ Court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne at this stage when other remedies which arc not necessarily onerous are still open to the applicant under the Act. We, therefore, refuse to intervene at this stage in this case, and leave it to the applicant to pursue his remedies under the Income-tax Act so far as the question of his chargeability to income-tax under the Act, or other matters are concerned." 9. Division Bench of this Court in the case of 'Sumit Passi vs. Assistant Commissioner of Income-Tax', (2016) 386 ITR, held that - "29. ....The reasons assigned by the Assessing Officer to tentatively believe that taxable income has escaped assessment cannot be brushed aside at the threshold without a fact-finding procedure, more-so when the petitioners are not remediles ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd it has only been observed that it is a fit case for issuance of notice under Section 148 of the Act. In fact, the Supreme Court in Commissioner of Income Tax and Ors. Vs. Chhabil Das Agarwal, (2014) 1 SCC 603 has held that as the Income Tax Act, 1961 provides complete machinery for assessment/ reassessment of tax, assessee is not permitted to abandon that machinery and invoke jurisdiction of High Court under Article 226." 11. Supreme Court in the case of 'Raymond Woollen Mills Limited vs. Income Tax Officer, Centre XI, Range Bombay and others' (Civil Appeals No.1972 of 1992 with No.1973 of 1992. D/d 17.12.1997), held that - "3. In this case, we do not have to give a final decision as to whether there is suppression of materia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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