TMI Blog2022 (8) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... 022 are set aside and the AO is directed to pass a fresh order within four weeks u/s 148A(d) after considering the averments documents placed on record in the present writ petition and the scrutiny assessment order passed in the case of VFSPL as well as the fact that VFSPL had furnished the PAN/GSTIN details in response to the notice issued under Section 142(1). - W.P.(C) 11340/2022 & CM APPL. 33401/2022 & CM APPL. 33402/2022 - - - Dated:- 2-8-2022 - HON'BLE MR. JUSTICE MANMOHAN AND HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA Petitioner Through: Dr. Rakesh Gupta, Dr. Rakesh Kumar, Mr. Somil Agarwal and Mr. Anshul Mittal, Advocates. Respondents Through: Mr. Ruchir Bhatia, Sr. Standing Counsel for Revenue with Ms. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Learned counsel for the Petitioner states that the Petitioner-Assessee is a SEBI registered broker providing trading platform online to the clients as per SEBI/NSE/BSE Exchanges Rules Regulation and charging brokerage only. He further states that the Petitioner has no involvement, whatsoever, with the transactions done by its clients online and therefore, on the basis of alleged assessment in the case of VFSPL, the issuing of notice under Section 148 of the Act to the Petitioner is totally illegal. 4. Learned counsel for the Petitioner further states that the case of VFSPL was picked up for scrutiny and after examination of all the submissions, an assessment order dated 8th April, 2021 under Section 143(3) read with Section 144B o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... then the scrutiny assessment of VSFPL had concluded even prior to the issuance of the notice under Section 148A(d) of the Act to the Petitioner. It is strange that the said information was not reported by the VFSPL s Assessing Officer to the Petitioner s Assessing Officer. 9. In any event, to cut the controversy short, the impugned order passed under Section 148A(d) and the notice issued under Section 148 of the Act, both dated 6th April 2022 are set aside and the Assessing Officer is directed to pass a fresh order within four weeks under Section 148A(d) after considering the averments documents placed on record in the present writ petition and the scrutiny assessment order passed in the case of VFSPL as well as the fact that VFSPL had ..... X X X X Extracts X X X X X X X X Extracts X X X X
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