TMI Blog2023 (1) TMI 486X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the extended time to furnish the reply expired. Thus, accordingly, if this position is taken to be correct, the AO could pass an order u/s 148A(d) of the Act, on or before 31.07.2022. As observed above, we are in agreement with Mr Kumar on this aspect of the matter. To reiterate, since the reply of the petitioner was partial, and the petitioner itself had indicated that even if no material is supplied, it will file a further response to the notice issued under Section 148A(b) of the Act, the one-month timeframe would kick in only from 30.06.2022. Non-supply of the material - Insofar as this aspect is concerned, Mr Kumar, cannot but accept that in terms of the judgment of the Supreme Court rendered in Union of India v. Ashish Ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al disposal at this stage itself. 5. This writ petition is directed against the order dated 25.07.2022 passed under Section 148A(d) of the Income Tax Act, 1961 [in short, the Act ] and the consequential notice of even date i.e., 25.07.2022 issued under Section 148 of the Act concerning Assessment Year (AY) 2016-2017. 6. The record appears to show that while the Assessing Officer (AO) was carrying out the assessment vis-a-vis AY 2017-2018, he came across certain unsecured loan transactions entered into amongst three entities [whose names are set forth hereafter] amounting to a cumulative sum of Rs.2.7 crores. The details concerning the read as follows: No. Name Address of Lender ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, they did not have the potential to lend the amounts to third parties. 8. We have, on record, the reply dated 31.05.2022 whereby the petitioner, inter alia, sought the following information/material from the AO. (i) Enquiries made by the AO. (ii) Inspection/ Enquiry Report. (iii) Any other reports/documents incidental or related to the above. (iv) Lastly, any other information and material relied upon by the revenue. 9. We may note that in the very same reply, the petitioner had indicated that it would file a further response once the aforementioned information/material is provided and that even if the information/material is not provided, it would reserve its the right to file a further response. 10. During ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would commence only from 30.06.2022, being end of the month i.e., the date on which the extended time to furnish the reply expired. Thus, accordingly, if this position is taken to be correct, the AO could pass an order under Section 148A(d) of the Act, on or before 31.07.2022. 13.1. In sum, it is Mr Kumar s contention, that since the order under Section 148A(d) of the Act was passed on 25.07.2022, it was not beyond the timeframe provided in Section 148A(d) of the Act. 14. As observed above, we are in agreement with Mr Kumar on this aspect of the matter. To reiterate, since the reply of the petitioner was partial, and the petitioner itself had indicated that even if no material is supplied, it will file a further response to the notice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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