9911796707
TMI Blog2023 (4) TMI 956X X X X Extracts X X X X X X X X Extracts X X X X ..... r was transferred to the A.O. of Ward 3(3)(1), Mumbai dealing with the international taxation, the information which was already sought for and submitted, was called yet again. Revenue has not been successful in satisfying us as to whether the information which was required to be furnished pursuant to the notices issued by the A.O. of Ward 3(3) (1), Mumbai, dealing with the international taxation was not already on record and if it was then the same ought to have been considered. An inadvertent error committed by the Petitioner in reflecting that the return of income had been filed under the category u/s 119(2)(b) instead of selecting the option u/s 148 could have been treated to be a return validly filed by invoking the provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s inasmuch as it had recorded factually incorrect and perverse findings in regard to the following (i) that the assessee had neither filed any return of income nor offered any income for taxation in respect of the transaction regarding purchase of immovable property valued at Rs. 4,23,61,800/-. (ii) that the assessee had not replied to the notices issued under Section 142(1) of the Act dated 11th October, 2021 and 13th March, 2022 as also the show cause notice dated 19th March, 2022. 2 Learned Counsel for the Petitioner states that the Petitioner in fact had filed his return of income on 19th April, 2021 pursuant to the notice dated 25th March, 2021 issued under Section 148 of the Act, for the assessment year 2015-16. It was however urge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to the notices subsequently issued on 08th March, 2022 or the notice issued thereafter on 13th March, 2022. It was further stated that a show cause notice dated 19th March, 2022 was issued requiring the Petitioner to show cause as to why an amount of Rs. 4,23,61,800/- be not treated as unexplained investment and added to the total income of the Petitioner to which no response was filed by the Petitioner. This was followed by a draft order dated 27th March, 2022 passed under Section 144C of the Act. It was urged that the Petitioner had made submissions on 03rd March, 2022 and 30th March, 2022 and even before that on 25th October, 2021, none of which were considered. It is stated that finally the order of assessment impugned dated 29th A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it was then the same ought to have been considered. An inadvertent error committed by the Petitioner in reflecting that the return of income had been filed under the category u/s 119(2)(b) instead of selecting the option u/s 148 could have been treated to be a return validly filed by invoking the provisions of Section 292B of the Act especially when the Petitioner claims that the mistake was brought to the notice of the concerned A.O. at the appropriate stage. 7. Having considered the entire issue we are of the opinion that the matter requires to be reconsidered by the concerned A.O. by treating the return of income filed by the Petitioner as a return of income filed in terms of the notice under Section 148 of the Act and treat t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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