9911796707
TMI Blog2023 (7) TMI 1211X X X X Extracts X X X X X X X X Extracts X X X X ..... the same. It is also clear that the petitioner was heard before Ext.P7 order was issued. The contention of the petitioner that the matters set out in the reply to the show cause notice have not been properly considered cannot be stated to be a violation of principles of natural justice. The judgments relied on by the learned counsel for the petitioner indicate that they were rendered in completely different fact circumstances. Ext.P7 order has considered the submission made by the petitioner and has found that the contentions taken have to be examined in the reassessment proceedings which, will follow. The officer holds that the nature of transactions mentioned in the show cause notice which have been explained in the reply of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... After affording to the petitioner an opportunity of hearing, Ext.P7 order has been issued rejecting the objections raised by the petitioner and finding that the reassessment proceedings should continue against the petitioner. According to the petitioner, Ext.P7 is illegal and unsustainable in law. 3. Adv.K.S.Hariharan Nair, the learned counsel appearing for the petitioner firstly contends that Ext.P7 order has been issued in violation of principles of natural justice in as much as the contentions taken by the petitioner in reply to the show cause notice have not been properly considered in Ext.P7 order. Secondly, it is contended that Ext.P7 order cannot be sustained as the reassessment proceedings are in respect of assessment year 2016-17 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will get a full opportunity at the time of reassessment. It is submitted that the decisions of the Delhi High Court, which have been relied on by the learned counsel for the petitioner were rendered in completely different fact circumstances and therefore, cannot be pressed into consideration by the petitioner to substantiate its case. It is also pointed out that the reassessment notice is within time as the case falls within Section 149(1)(b) of the Income Tax Act, which provides for a time limit of 10 years from the end of the assessment year in question and not under Section 149(1)(a) of the Income Tax Act where the time limit is only three years. 5. Having heard the learned counsel for the petitioner and the learned counsel appearing f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law laid down in the judgments of the Delhi High Court, which have been referred to by the learned counsel for the petitioner do not apply. I also note that Ext.P7 order has considered the submission made by the petitioner and has found that the contentions taken have to be examined in the reassessment proceedings which, will follow. The officer holds that the nature of transactions mentioned in the show cause notice which have been explained in the reply of the assessee dated 03.06.2022 require detailed examinations with necessary evidence in support of assessee's claim during the reassessment proceedings. I am, therefore, of the view that there is no ground on which Ext.P7 order can be interfered with in exercise of jurisdiction under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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