TMI Blog2024 (5) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... is thereafter, the petitioner filed return on 03.11.2017 declaring a total loss which culminated in the scrutiny assessment order dated 30.12.2019 under Section 143(3) of the Income Tax Act, 1961, for the Assessment Year 2017-2018. It is, in this background, the show cause notice was issued under Section 263 of the Income Tax Act, 1961. The scrutiny assessment order passed under Section 143(3) of the Income Tax Act, 1961, cannot be confused with the impugned order pursuant to invocation of power under Section 263 of the Income Tax Act, 1961. Therefore, there is no merit in this Writ Petition. Further, the issue involves disputed question of facts, liberty is given to the petitioner to file a statutory appeal before the Appellate Tribunal u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner has also complied with the order by depositing the differential tax of Rs. 1,49,70,000/-. That apart, the petitioner has also paid a further sum of Rs. 75,00,000/- towards Pradhan Mantri Garib Kalyan Yojana Scheme [PMGKYS] 2016. 4 . It is submitted that long after the petitioner complied with the order, it was not open for the first respondent to invoke Section 263 of the Income Tax Act, 1961, seeking revision of the assessment order passed on 30.12.2019 under Section 143(3) of the Income Tax Act, 1961. 5 . The Writ Petition is opposed primarily on the ground that the petitioner had an alternate remedy before the appellate Tribunal under Section 253(1)(c) of the Income Tax Act, 1961. That apart, it is submitted that pursuant t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndents. 9 . It is noticed that a survey was conducted under Section 133A of the Income Tax Act, 1961 on 14.03.2017. The petitioner had declared Rs. 3,00,00,000/- under Pradhan Mantri Garib Kalyan Yojana Scheme [PMGKYS] 2016 and has paid Rs. 1,49,70,000/- and deposited a sum of Rs. 75,00,000/- under it. 10 . It is thereafter, the petitioner filed return on 03.11.2017 declaring a total loss of Rs. 2,39,61,352/-, which culminated in the scrutiny assessment order dated 30.12.2019 under Section 143(3) of the Income Tax Act, 1961, for the Assessment Year 2017-2018. It is, in this background, the show cause notice was issued under Section 263 of the Income Tax Act, 1961. 11 . The scrutiny assessment order passed under Section 143(3) of the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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