9911796707
TMI Blog2024 (6) TMI 692X X X X Extracts X X X X X X X X Extracts X X X X ..... e prior to framing the assessment along with the draft assessment order would be futile exercise contrary to provisions of Section 144B of the Income Tax Act, 1961. Explanation given by the AO that the draft assessment order was already sent for approval and, therefore, reply dated 23.02.2024 tendered by the assessee was not reflected in the impugned Assessment Order, cannot be accepted. Thus because, while framing the impugned Assessment Order reply is not taken into consideration by the respondent Assessing Officer the same is hereby quashed and set aside and the matter is remanded back to the AO to pass fresh de novo order after considering the contents of reply filed by the petitioner assessee and after providing opportunity of hearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act for the year under consideration along with an annexure as per which the respondent alleged the escapement of income chargeable to tax to the tune of Rs.2,51,87,500/- in the hands of the petitioner for the year under consideration in view of certain material gathered during the course of search carried out by revenue in the case of Sambhaav-Nila Group i.e. third party on 08.09.2021 and 27.10.2021. 2.5 The petitioner by letter dated 20.02.2023 requested the respondent to furnish certain documents gathered during the course of search of third party. 2.6 The respondent by notice dated 21.02.2023 issued under Section 142(1) of the Act, called upon the petitioner to furnish various details including details pertaining to transactions with t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not file any reply nor furnished any details or adjournment. Since, the assessee did not respond to show cause notice, assessment is hereby finalized as per material available on record as under. ..xxx. 3. In view of above undisputed facts it is emerging from the record that though the petitioner filed short adjournment vide application dated 14.02.24 upto 23.02.2024 and on 23.02.2024 the petitioner filed detailed reply to the Show Cause Notice, the same was not considered by the respondent - Assessing Officer for the reasons best known to him. 4. On the other hand, learned advocate for the respondent Assessing Officer has filed affidavit-inreply tendering explanation that he is holding two charges and before that he has also recorded in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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