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TMI Blog2024 (3) TMI 379X X X X Extracts X X X X X X X X Extracts X X X X ..... PAN : AACFN9222D, dated 25.03.2022 in DIN : ITBA/AST/S/147/2021- 22/1041593179(1) passed by the 1st respondent under Section 147 r/w Section 144 read with Section 144B of the Income Tax Act, 1961 for the Assessment Year 2015-2016 and the impugned notice in PAN : AACFN9222D, dated 28.03.2021 in DIN : ITBA/AST/S/148/2020- 21/1031849422(1) issued by the 2nd respondent under Section 148 of the Income Tax Act, 1961 for the Assessment Year 2015-2016. 2. It is the specific case of the petitioner that although the petitioner had intimated to the respondents regarding the change in the situation of the petitioner from Partnership Firm to a Private Limited Company under Chapter IX of the Companies Act, 1956 vide letter dated 23.04.2014, the responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fresh certificate of IE Code on 18.10.2010 incorporating the changes and by incorporating the new PAN of the petitioner Company ie, NRP Projects Pvt.Ltd. (PAN AADCN3383M) allotting the same IE code of the erstwhile firm M/S.N.R.Patel & Co., (PAN AACFN922D) after the business was taken over by the petitioner's company. 6. It is submitted that all the transactions that has been referred to show cause notices were in the name of the petitioner's company and duly acknowledged for the assessment by the Income Tax Act, 1961. 7. Specifically, the learned counsel for the petitioner has referred to the copy of the shipping bill and the Bills of Entry wherein name of the petitioner with reference of the income tax PAN No.AADCN3383M has been used fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Companies Act, 1956 vs. The Deputy Commissioner of Income Tax and another, W.P.No.9594 of 2023. 10. On the other hand, the learned counsel for the respondent has submitted that the petitioner had used the old PAN No.AACFN9222D in making the transaction. It is submitted that although the firm was dissolved, the PAN No. AACFN9222D was utilized for transaction and thereby there was escape of tax by the petitioner. 11. It is submitted that the impugned order does not suffer from any irregularities warranting interference under Article 226 of the Constitution of India. It is submitted that the petitioner has an alternate remedy before the Appellate Court under Section 246 of the Income Tax Act, 1961. 12. It is submitted that the case wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... receipt, P&L, Balance sheet etc., but here was no response to the same. 15. The learned counsel further submitted that the respondent after giving many opportunities to the petitioner, having no response, issued notice under Section 142(1) dated 31.12.2021 to the petitioner and was specifically asked to state/explain how the PAN of the dissolved firm was used after its dissolution for making the several financial transactions. It is submitted that the petitioner has not furnished any explanation to the same with documentary evidence, and therefore show cause notice was issued to the petitioner on 11.03.2022. 16. The learned counsel for the respondents submitted that only in response to the show cause notice the petitioner submitted detai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2001 with the IE Number : 0499011287. The IEC number is linked to the PAN Number. It appears that earlier the IE Code would have been obtained in the name of an individual and thereafter same IE Code was re-issued in the name of the Firm. 22. After the Firm was dissolved on 14.07.2010, a fresh IE Code was issued in the name of petitioner company with the same IEC number. Copy of the certificate of the said IE Code has been filed. The certificate of IEC Code is dated 18.10.2010. It is reproduced below:- 23. The documents that have been filed by the petitioner in respect of which the proceedings were initiated with the issuance of Notice dated 28.03.2021 under Section 148 of the Income Tax Act, 1961 for the Assessment Year 2015-2016 pertain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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