9911796707
TMI Blog2024 (8) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... d that not surrending the PAN obtaining for the Partnership Firm with PAN No. ABHFS6206J. Transactions have been made from the account maintained in the name of the Partnership Firm, which allegedly became a Proprietary concern of the deponent. There are also indications that the Returns filed by the deponent in his individual capacity is from the same address, for which the PAN was obtained in the name of the Partnership Firm. That apart, there appears to be a huge transactions. Since there was no reply to the notices issued by the respondent, the respondent cannot be found faulted in passing the order under Section 144 read with Section 147 of the Income Tax Act, 1961. Since the petitioner is also assessed to tax individually with the PAN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtnership Firm discontinued the business and the business was carried on by the deponent Ramesh Kumar as the Proprietor. 4. It is farily submitted that the Partnership Firm was unregistered one and no intimation was given to the Income Tax Department that the said firm ceased to exist and the business was taken over by the deponent in his individual capacity. 5. The learned Senior Counsel for the petitioner would also submit that the deponent was himself assessed to income tax in his individual capacity as the Proprietor of the said Partnership Firm and was filed regular Returns with the PAN No.AKWPR0604F. 6. It is submitted that no business was carried on by the Partnership Firm bearing Pan No.ABHFS6206J after the deponent took over the bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is remitted back to the respondents to issue a proper notice under Section 148A(b) of the Income Tax Act, 1961. In view of the above, the consequential penalty notice issued under Section 271(1)(c) of the Act on 03.08.2022 04.08.2022 is also stands quashed. The respondents shall pass order under Section 148A(d) of the Income Tax Act, 1961 within a period of twelve (12) months from the date of receipt of a copy of this order. 10. The learned Senior Counsel for the petitioner submits that the petitioner may be given one opportunity to explain the case afresh. According to the learned Senior Counsel for the petitioner, the petitioner has been mulcted with unjust tax liability. 11. On the other hand, the learned Senior Standing Counsel for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18.09.2023 and was served at the said address on 05.10.2023. It is therefore submitted that there is no merits in the present Writ Petition. 17. It is submitted that since there was no participation, the impugned orders have been passed by invoking Section 147 read with Section 144 read with Section 144B of the Income Tax Act, 1961 by resorting best assessment. 18. The learned Senior Standing Counsel for the respondent further submits that the decision relied by the learned Senior Counsel for the petitioner in the case of Shri Renga Fabrications Private Limited (cited supra) is not applicable to the facts of this Case as the Court was concerned with totally different situation. 19. Having considered the submissions made by the learned Senio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25,00,000/- each) to the credit of the Income Tax Department within a period of eight weeks from today. The petitioner shall file reply within a period of six weeks from today and deposit the said amount within a period of two weeks thereafter. 24. The respondent shall thereafter proceed to pass final orders on merits and in accordance with law as expeditiously as possible preferably within a period of six months from the date of receipt of a copy of this order. 25. The petitioner shall co-operate with the respondent and shall produce the records for perusing the Returns filed in his individual capacity. It is made clear that in case the petitioner files to co-operate with the respondent, the respondent is at liberty to proceed against the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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