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TMI Blog2025 (3) TMI 1226X X X X Extracts X X X X X X X X Extracts X X X X ..... thwith. Learned Senior Standing Counsel Mr. Varun K. Patel waives service of notice of rule for and on behalf of the respondent. 2. By way of this petition under Article 226 of the Constitution of India, the petitioner has prayed for the following reliefs : "(a) to issue a writ of certiorari or in the nature of certiorari or any other appropriate writ, orders or directions quashing and setting aside the impugned order of assessment dated 17.03.2022 for A.Y.2015-16 passed by the Respondent [Annexure-A (Coll.)]. (b) to issue a writ of certiorari or in the nature of certiorari or any other appropriate writ, orders or directions quashing and setting aside the notice of demand issued u/s.156 of the Act on 17.03.2022 for Rs. 2,54,90,239/- f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from 01.07.2014 by introducing ten partners and the petitioner had introduced stock worth Rs. 6,66,82,080/- by way of capital contribution while joining the said firm on 01.07.2014 and the said stock was received by way of gift from his father Shri Ashok Zinzuwadia on 10.04.2014 which was worth Rs. 2,63,64,173/- as on 10.04.2014. 3.3. The respondent initiated re-assessment proceedings under Section 147 of the Act on the ground that the difference of Rs. 4,03,17,907/- between the value on the date of gift i.e. 10.04.2014 and the value on the date of joining the firm i.e. 01.07.2014 was liable to capital gains under Section 45 (3) of the Act. 3.4. Thereafter, a notice dated 28.03.2018 was issued to the petitioner under Section 148 of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings with NFAC but this time it was a notice from ACIT Cent-1, Rajkot without any prior notice or intimation of the order passed under Section 127 of the Act, the petitioner raised an issue on this aspect at the threshold in the said reply. 3.8. It is the case of the petitioner that the petitioner had also made request for video conferencing, which was granted as per the Email communication received from e-filing portal of the Department however, the respondent has passed an order under Section 147 read with Section 143 (3) dated 17.03.2022 on the total income of Rs. 5,17,37,960/- after making the addition of Rs. 4,03,17,907/- and raised a huge demand of Rs. 2,54,90,239/- for Assessment Year 2015-16. However, as the petitioner was o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... violation of the principles of natural justice and he therefore prayed that the impugned Assessment Order may be quashed and set aside and the matter may be remanded back to the Assessing Officer to pass a fresh de-novo order after providing an opportunity of hearing to the petitioner through video conference. 5.1. On the other hand, learned Senior Standing Counsel Mr. Varun K. Patel for the respondent submitted that the case of the petitioner was transferred to the Central Circle and was not within the domain of NFAC and therefore, the petitioner was not entitled to any video conference. 5.2. In support of his submissions, reliance was placed on the following averments made in the affidavit-in-reply filed on behalf of the respondent: " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this office to show cause as to why the amount of Rs. 4,03,17,907/- should not be treated as Short Term Capital Gain of the assessee for the year under consideration. In response to this notice the assessee submitted his response on 14.03.2022. However, in his response the assessee could not submit a cogent reply. The assessment was completed u/s 143 (3) r.w.s. 147 of the Act, on 17.03.2022 at Rs.5,17,37,960/- after making addition of Rs. 4,03,17,907 on account of STCG for the year under consideration. 12. With reference to para 3.3, the respondent denies each and every allegation, averment and contention raised therein. It is submitted that the in this para, the assessee is stating that a show cause notice was issued to him on 29.12.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the notice issued to assessee dated 10.03.2022 from this office, it is clearly mentioned in the last paragraph of the notice that "This notice is issued u/s 142 (1) r.w.s. 129 of the income tax Act, 1961". Thus, it is clear that the assessee was provided proper intimation in respect of change of jurisdiction of his case and therefore the contention of the assessee that he was not provided with any notice or intimation in respect of change of jurisdiction is patently incorrect and not sustainable." 5.3. Referring to the above averments, it was submitted that there is no gross violation of the principles of natural justice as alleged by the petitioner as the Assessing Officer has completed the proceedings in accordance with law and suffici ..... X X X X Extracts X X X X X X X X Extracts X X X X
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