The Bombay High Court in the case Ganesh Ramesh Chavan Versus Income Tax Officer observed and has directed the Jurisdictional Assessing Officer, JAO in order to provide specific information relied upon to issue the notice under Section 148A(B) of the Income Tax Act.
The bench comprising of Justice K. R. Shriram and Justice Neela Gokhale in the case observed and has quashed the assessment order and directed the JAO to dispose of the matter on or before December 31, 2023. In the present case, the department agreed to quash the assessment order and has remanded the matter back to the Jurisdictional Assessing Officer, JAO to the stage of issuance of notice under Section 142(1) of the Income Tax Act, 1961. The department stated before the court that the JAO shall provide the petitioner within two weeks the documents and specific information received to allege that the petitioner has paid cash for an amount of Rs. 15,27,000 to one Bhagwati developer and its group.
On the other hand, the petitioner stated that within two weeks of receiving the documents, he would supplement the response submitted to the notice issued dated May 24, 2023 under Section 142(1) of the Income Tax Act.
The court while considering the facts and circumstances of the case observed agreed with the contentions of both parties, quashed the assessment order and directed the JOA to pass the final order after giving a personal hearing.
The counsel, Adv. Karan Gajra instructed by DRK Associates (Navi Mumbai) appeared for the petitioner. The counsel, Advocate Sushma Nagaraj represented the respondent.
