TMI Blog2023 (2) TMI 756X X X X Extracts X X X X X X X X Extracts X X X X ..... the recorded statement and thereafter issued notice on finding a nexus between these two, the least which could be done at the end of the furnished requisite details for necessary to meet with the allegation and presents its case appropriately. In absence of basic details of the name of the persons with whom the petitioner is said to have made unexplained transaction, how is it expected to reply to the same by cropping in dark. Resultantly, we appreciate the fairness of learned advocate not stretching the case beyond the point, and also endorsing clearly that a name of the person with whom the alleged dealing was of issuance of notice had not been disclosed any information supplied to the petitioner. Resultantly, the petition is allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unsel Mr. Karan Sanghani, waives service of notice of rule for and on behalf of the respondent. 4. The petitioner is an individual, engaged in the business of trading. The petitioner filed return of income for AY 2018-19 under Section 139(1) of the Act on 24.8.2018 declaring total income of Rs.2,79,080/-. 5. The return of income of the petitioner was assessed under Section 143(1) of the Act and an intimation under Section 143(1) of the Act dated 13.10.2018 was issued, accepting the returned income. A show cause notice was issued under Section 148A(b) of the Act on 16.3.2022 stating that he has information which suggests that the income, chargeable to tax, for AY 2018- 19 has escaped assessment within the meaning of Section 147 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g through the same, quash the impugned order passed u/s 148A(d) of the Act dated 07.04.2022 (Annexure-B), notice issued u/s 148A(b) of the Act dated 16.03.2022 (Annexure-A) as well as consequential notice issued u/s 148 of the Act dated 26.05.2022 (Annexure-E) by respondent No.1 and any consequential action arising thereto; (b) pending the hearing and final disposal of this petition, the operation of the impugned order passed u/s 148A(d) of the Act dated 07.04.2022 (Annexure-B), notice issued u/s 148A(b) of the Act dated 16.03.2022 (Annexure-A) as well as consequential notice issued u/s 148 of the Act dated 26.05.2022 (Annexure-E) by respondent No.1 and any consequential action arising thereto, be stayed; 6. We have heard Mr. Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recorded during the search. It reads as under: b. With regard to the merits of the issue, the assessee has not submitted any reply or explanation or evidence. In this regard, it is relevant to mention that a search action was carried out on 03.12.2021 in the premises of Mahendra C. Mehta at Surat. The key person in the statement recorded during search had admitted the modues operandi of suppression of two zeros in the entries. Digital data found and corroborated revealed that Mahendra C. Mehta had made such transactions with various parties by following similar modus operandi. It is also established from the seized data that the assessee had made unexplained investment in the transactions with Mahendra C. Mehta amounting to Rs.31,12,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssuance of notice had not been disclosed any information supplied to the petitioner. 10. Resultantly, the petition is allowed by quashing and setting aside the order dated 7.4.2022 passed u/s 148A(d) of the Act (Annexure-B); notice dated 16.3.2022 issued u/s 148A(b) of the Act (Annexure-A) as well as consequential notice dated 26.5.2022 issued u/s 148 of the Act (Annexure-E) by respondent No.1 and consequential proceedings pursuant thereto. Let the process be undertaken stage-by-stage from where the stage was left. The petitioner shall be furnished information with all requisite details which shall include the name of the party with whom the petitioner is said to have transacted. If there is any other material sought to be relied upon by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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