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TMI Blog2024 (5) TMI 829X X X X Extracts X X X X X X X X Extracts X X X X ..... etitioner submits that the respondents only took into consideration the credits in the bank account and did not take into account the debits therefrom and if such debits had been taken into account, she submits that the escaped amount would be much less than Rs. 50 lakhs - HELD THAT:- On perusal of the impugned orders, it is evident that the respondents proceeded ex-parte because the petitioner di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is permitted to submit a reply to the show cause notice dated 27.02.2023 within 15 days from the date of receipt of a copy of this order. X X X X Extracts X X X X X X X X Extracts X X X X ..... n the credits in the bank account and did not take into account the debits therefrom. If such debits had been taken into account, she submits that the escaped amount would be much less than Rs. 50 lakhs. She also raised the contention that the 'income chargeable to tax' and not merely the income should be equal to or more than Rs. 50 lakhs. 4. Mr. D. Prabhu Mukunth Arunkumar, learned juni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... participate in proceedings. It is also evident that the aggregate deposits were taken into consideration. The petitioner contends that the debits from the bank account were not taken into consideration and that if such debits were considered, the alleged escaped income would be less than the prescribed minimum threshold of Rs. 50,00,000/-. Since the petitioner could not contest the matter on meri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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