TMI Blog2024 (3) TMI 379X X X X Extracts X X X X X X X X Extracts X X X X ..... o exports made by the petitioner with the same IE Code. Copies of the export shipping bills shows that the PAN Number of the company with the above IE Code has been declared. Similarly, some of the copies of the Bill of Entries filed by the petitioner before this Court also indicate that the Bills of Entry also contain the PAN number of the petitioner company with the same IE Code and not the PAN number of the Partnership Firm which seems to expire with effect from 14.07.2010. The petitioner has also filed Copy of Form 15 CA acknowledgement with respect to Remittance to non-resident or foreign company which also indicate the name of the petitioner Company with the petitioner's PAN number. On the other hand, the impugned order itself has been passed in the name of the non-existing firm based on a notice that was issued in the name of non-existing Firm. All along the petitioner has replied to the Department. Department has failed to take note of the same and has thus confirmed the demand. The consequences in the impugned order is thus unsustainable. That apart for the subsequent Assessment Year, namely the Assessment Year 2016-2017, a notice was issued u/s 148A(b) of the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25.03.2022 preceeds a show cause notice dated 01.03.2023 wherein it has been stated that from the information gathered it indicates that the business was carried out by the firm namely NR.Patel and Co., (AACFN9222D) and confirms that it has not filed return for the assessment year 2015-16 although several transactions are carried in the said name as is evident from the shipping bills with a tune of Rs. 69,47,528/- and Bills of Entry for import for a sum of Rs. 10,22,70,166/-. Apart from that Contractual receipts of Rs. 19,589/- on which TDS of Rs. 392/- was deducted and remittance of Rs. 44,60,567/- towards non-resident of foreign company. 5. The petitioner has replied to the same wherein it has been categorically stated that Commerce Ministry issued fresh certificate of IE Code on 18.10.2010 incorporating the changes and by incorporating the new PAN of the petitioner Company ie, NRP Projects Pvt.Ltd. (PAN AADCN3383M) allotting the same IE code of the erstwhile firm M/S.N.R.Patel Co., (PAN AACFN922D) after the business was taken over by the petitioner s company. 6. It is submitted that all the transactions that has been referred to show cause notices were in the name of the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner has an alternate remedy before the Appellate Court under Section 246 of the Income Tax Act, 1961. 12. It is submitted that the case was reopened as there was an information in the NMS portal that M/s.N.R.Patel and Co., (PAN : AACFN9222D) had entered into the following transaction and had not filed its return of income for the Assessment Year 2015-16:- (i) Shipping bill for export to the tune of Rs. 69,47,528/-. (ii) Bill of Entry for import to the tune of Rs. 10,22,70,165/-. (iii) Contractual receipt of Rs. 19,589/- on which TDS of Rs. 392/- was deducted. (iv) Remittance of Rs. 44,60,567/- to a non-resident or foreign company. 13. It is submitted that it is clear that the petitioner is carrying out transactions in the PAN of the dissolved firm, but when the case was reopened in the name of the dissolved firm, the petitioner is objecting to the same without furnishing any valid ground as to why the PAN of the dissolved firm was used. It is submitted that if the petitioner has any dispute in the addition, it should have approached the Commissioner of Income Tax (Appeals). 14. It is submitted that notice under Section 148 was issued on 28.03.2021 and there was no response from th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) under the provisions of the Foreign Trade (Development and Regulation) Act, 1992 read with Foreign Trade (Regulation) Rules, 1993 export import policy as it stood then. 21. The IE Code was subsequently amended and a fresh IE Code was issued on 15.06.2001 with the IE Number : 0499011287. The IEC number is linked to the PAN Number. It appears that earlier the IE Code would have been obtained in the name of an individual and thereafter same IE Code was re-issued in the name of the Firm. 22. After the Firm was dissolved on 14.07.2010, a fresh IE Code was issued in the name of petitioner company with the same IEC number. Copy of the certificate of the said IE Code has been filed. The certificate of IEC Code is dated 18.10.2010. It is reproduced below:- 23. The documents that have been filed by the petitioner in respect of which the proceedings were initiated with the issuance of Notice dated 28.03.2021 under Section 148 of the Income Tax Act, 1961 for the Assessment Year 2015-2016 pertains to exports made by the petitioner with the same IE Code. Copies of the export shipping bills for Rs. 69,47,528/- shows that the PAN Number of the company with the above IE Code has been declared. 24 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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