2022 (10) TMI 233

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..... Income Tax
Hon'ble Mr. Justice Manindra Mohan Shrivastava And Hon'ble Mrs. Justice Shubha Mehta For the Petitioner(s) : Mr. Mahendra Gargeiya, Advocate with Mr. Anurabh Dey, Advocate, Mr. Devang Gargeiya, Advocate ORDER Heard. Challenge to initiation of proceedings under Section 148A of the Income Tax Act, 1961 (hereinafter referred to as "I.T. Act"), as also orders dated 29.03.2022 .....

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..... statutory period of seven days, the petitioners applied for adjournment. The orders passed under clause (d) of Section 148A of the I.T. Act do not refer to such prayer for adjournment. However, taking into consideration that the material placed before us does not show any extraordinary grounds for seeking such adjournment, only on that ground we are not inclined to interfere with the orders which .....

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..... also by collecting other material including the bank transactions, slips, statements and specific record and clear reasons on the objection raised by the petitioners that the alleged income chargeable to tax is less than Rs.50,00,000/- as there is only single alleged transaction of Rs.34,01,000/- and not two transactions as stated in the proceedings drawn under Section 148A of the I.T. Act. With .....

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