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TMI Blog2022 (5) TMI 553X X X X Extracts X X X X X X X X Extracts X X X X ..... lance sheet filed along with the return. Thus, there was absolutely no material before the assessing authority for initiating proceedings under Section 148 of the Act, 1961 and the reasons to believe recorded by the respondents were totally unfounded. The manner in which the proceedings under Section 148 of the Act, 1961 has been initiated against the petitioner, prima facie, reflects illegal and arbitrary approach of the respondents on one hand and on the other hand to cause harassment to the petitioner/assessee. In the event counter affidavit is not filed within the time granted as aforesaid, then the respondent no.3 shall remain personally present before this Court and shall show cause for non filing of the counter affidavit. In its coun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uash the re-assessment order dated 29.3.2022. 5. Briefly stated facts of the present case are that the petitioner is a private limited company registered under the Companies Act. It has been regularly filing its return of income under the Act, 1961. For the assessment year 2017-18, it filed its return of income along with audit reports as required under the Act, disclosing loss for the assessment year 2017-18. A notice under Section 148 of the Act, 1961 was issued on the basis of information that the petitioner has deposited a sum of Rs. 12,50,14,500/- in bank account during the assessment year 2017-18. The assessee objected to the notice and stated that it has not deposited Rs. 12,50,14,500/- in his bank account as cash and the informati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apers that have been annexed by the respondent no. 2 along with his instructions dated 24.3.2022 also clearly affirms that the alleged cash deposit of Rs. 12,50,14,500/- has absolutely no relation with the petitioner rather it relates to one M/S S.R. Cold Storage. The entire proceeding under Section 148 of the Act, 1961 have been initiated by the respondents on the basis of an anonymous letter in which also the petitioner has not been named and instead one Vishwanath Singh Katiyar @ Munnu Bhaiya owner of M/S S.R. Cold Storage has been named. Even in his verification report, the respondents have found that the information relates to M/S S.R. Cold Storage. There was absolutely no evidence that the petitioner has deposited cash of Rs. 12,50,14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts and circumstances of the case as briefly discussed above, the effect and operation of the impugned re-assessment order dated 29.3.2022 shall remained stayed." Learned counsel for the respondent Nos. 2 and 3 prays for and is granted two weeks and no more time to file counter affidavit. The respondent no.1 shall also file a counter affidavit within the same period. In the event counter affidavit is not filed within the time granted as aforesaid, then the respondent no.3 shall remain personally present before this Court and shall show cause for non filing of the counter affidavit. In its counter affidavit the respondent no.1 shall show cause that what action and measures are being proposed by the Government against illegal and arbitr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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