9911796707
TMI Blog2021 (4) TMI 1111X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondents. P.C:- The challenge in this Petition is to notice dated 28th March, 2019 issued under Section 148 of the Income Tax Act, 1961 by Respondent No.1 and the subsequent order dated 29th March, 2021, disposing of objections of the Petitioner. Admittedly, the re-opening is beyond a period of four years. 2. Learned Sr. Counsel for the Petitioner, Mr. Pardiwalla, has taken us through the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urchase bills to reduce and suppress profits. The Sales Tax Authorities had taken action against a number of Hawala Dealers who had issued bogus purchase bills to various assessee's of Mumbai to suppress their profits. On the basis of this action sales Tax Authorities had forwarded the names of the hawala Bills and had either suppressed or reduced profits. In the instant case, Satya Prakash Singh, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd subsequent order are un-sustainable. 3. Learned Counsel for the Revenue Mr. Walve, submits that after original Assessment Order had been passed, it transpired that the Director General of Income Tax (Investigation) has for forwarded information regarding Assessees who had taken bogus purchase bills to reduce and suppress profits. He submits that the Sales Tax Authority had taken action against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is reason to believe that income chargeable to tax has escaped assessment. 4. Having heard learned Counsel for the parties, prima facie, it appears that there is some merit in the case. 5. Till the next date, there shall be ad-interim relief in terms of prayer clause (d) which reads thus:- " that pending the hearing and final disposal of the present petition, this Court may be pleased t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
