9911796707
TMI Blog2024 (4) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961 dated 03.03.2023 (Annexure-5), Order under clause (d) of section 148A of the IT act, 1961 passed on 31.03.2023 (Annexure-7) and Notice u/s 148 dated 31.03.2023 (Annexure-8), all for the Assessment year 2019-20 issued by the jurisdictional assessing officer i.e. by the Deputy Commissioner of Income Tax, Circle-1, Dhanbad (Respondent No. 2), in the name of erstwhile dissolved / non-existent partnership firm M/s Parikh Sales, which ceased to exist since it was acquired and taken over by M/s Parikh Marketing Private Limited w.e.f. 01.4.2009, as a going concern with it's all assets and liabilities, despite the fact that the assessing officer was duly informed by petition dated 01.04.2009 filed on 20.04.2009 (Annexure-3) and by the peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as the Act), was passed on 07.12.2016. The case of the petitioner is that the alleged Axis Bank account No. 1720102000001076 standing in the name of aforesaid partnership firm M/s Parish Sales, was duly disclosed by the Petitioner company in its return filed and was accepted by the jurisdictional assessing officer, as if it was of the Petitioner company, since no adverse inference in this respect was made. The petitioner Company filed its income tax return for the instant AY 2019-20 on 31.10.2019 by e-filing, wherein the said Axis Bank account No. 1720102000001076 standing in the name of aforesaid partnership firm M/s Parikh Sales was duly disclosed by the Petitioner company as its Bank account, as was being done in past also, after its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rn. On 25.04.2023, the petitioner logged on at the IT Portal under the PAN of the erstwhile dissolved partnership firm M/s Parikh Sales being PAN ID AACFM7615D. However, an error message was reflected that "PAN does not exist" 3. Learned counsel for the petitioner submits that a reply was filed by the petitioner before the respondent No. 2 on 16.03.2023, requesting him to drop the proceedings stating that notice u/s 148A(b) was issued by the Respondent No. 2 in the name of erstwhile dissolved /non-existent partnership firm M/s Parikh Sales PAN: AACFM7651D regarding cash deposit in aforesaid Axis Bank Limited Account. However, without any further clarification or without giving any opportunity of personal hearing, the respondent No. 2 passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this High Court. 4. Learned counsel for the respondents submits that the Assessing Officer is in possession of information by the Insight Portal and non-filing of ITR for the AY 2010-11 and onwards suggests that the income chargeable to tax has escaped assessment relating to entire deposit of Rs. 2,48,68,510/- in the Axis Bank A/c no. 1720102000001076 and the said information is duly flagged in accordance with the risk management strategy of the CBDT. However, in reply dated 16.03.2023 the Petitioner contended that the said transactions made through its Axis bank is already disclosed in its books of accounts for running of the business smoothly, operation in one bank account in the name of erstwhile M/s Parikh Sales was continued. A re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner on 16.03.2023, stating all the past facts with evidences that it has been acquired by the company and stated that the aforesaid amount to Rs. 2,48,68,510/- deposited in Axis Bank was duly considered in the return of the company and there was no escapement and as such the case should not be reopened u/s 147 of the Act and the entire proceedings be dropped. It transpires that the respondent No. 2, without making any further clarification or without giving any opportunity of personal hearing, passed final Order u/s 148A(d), giving only one line finding on merits that "the case was examined and found that transaction in the above bank account of M/s Parikh Sales has been made and no ITR has been filed for the above AY" and conc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal the of Revenue in Spice Enfotainment" 7. Recently, in the case of Sandeep Chopra, vs PCIT, Dhanbad and others [W.P.(T) No. 2972 of 2022 Dt. of decision 09.02.2023 (Jh HC)] this Court at para 11 has held as under:- "11. Having regard to the discussions made hereinabove, notice issued under Section 148 for initiation of reassessment proceeding in the name of the deceased assessee (Bhim Sen Chopra) on his PAN and not in the name of his legal representative is held to be illegal and bad in law. Consequently, since the notice itself has been declared to be null and void, the order passed pursuant to the said notice is also null and void. As a result, the notice dated 18.3.2020 issued under Section 148 of the Act and all consequential orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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