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TMI Blog2023 (11) TMI 649X X X X Extracts X X X X X X X X Extracts X X X X ..... the total income. The impugned orders in all these petitions are, therefore, without jurisdiction. The orders in the respective petitions are therefore quashed and set aside. Petitions are allowed, accordingly. - HONOURABLE MR. JUSTICE BIREN VAISHNAV AND HONOURABLE MR. JUSTICE BHARGAV D. KARIA Appearance: For the Petitioner(s) No. 1 : Mr SN Divatia(1378) For the Respondent(s) No. 1 : Karan G Sanghani(7945) ORAL JUDGMENT (PER : HONOURABLE MR. JUSTICE BIREN VAISHNAV) 1. Rule returnable forthwith. Mr. Karan Sanghani, learned Standing Counsel, waives service of notice of rule on behalf of the respondent revenue. With consent of the learned advocates appearing for the respective parties, the matte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 21.03.2022 points out that the information was received that the petitioner had indulged in transactions of time deposits and mutual fund investment, but did not file return of income. The said information suggested that there is escapement of income to that extent. On 21.03.2022, the petitioner uploaded the reply dated 20.03.2022 along with various details / documents which included NRE SB Statements, Uganda citizenship and passport documents etc. 2.3 It is submitted by Mr. Divatia, learned counsel, that the respondent has on 29.03.2022, passed the impugned order u/s. 148A(d) holding that the income to the tune of Rs. 1,92,00,000/- had escaped assessment for the year under consideration, and therefore, it was a fit case for issua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The order impugned indicates that the petitioner had furnished such details which read as under: i. Time deposits (NRE) of Rs. 51,00,000/- with Kotak Mahindra Bank Limited were made out of his NRE Saving account number 6511210464 with Kotak Mahindra Bank Limited. Assessee submitted bank account statement of his NRE bank account with Kotak Mahindra Bank Limited. ii. Time deposits (NRE) of Rs. 80,00,000/- with HDFC Bank Ltd were made out of his NRE Saving account number 50100158161603 with HDFC Bank Ltd. Assessee submitted copy of certificate from Bank of Baroda in this regard. iii. Investment of Rs. 47,00,000/- in ICICI Prudential Mutual Fund was invested out of his NRE Saving bank account (A/c. No. 0086011017024) with ICIC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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