9911796707
TMI Blog2024 (8) TMI 756X X X X Extracts X X X X X X X X Extracts X X X X ..... pening of the assessment under Section 147 r.w.s.144B of the Income Tax Act, 1961, for the partnership firm, as it has purportedly closed down its business w.e.f. 01.04.2014. The petitioner will have to establish whether the huge deposits made in the petitioner's bank account have been brought into the books of accounts under the name of the deponent. This would require a detailed consideration. However, considering the fact that the deponent has been negligent in not responding to the notices issued under Section 148A(b) of the Income Tax Act, 1961 and thereafter to the orders passed under Section 148A(d) of the Income Tax Act, 1961, we are inclined to quash the impugned Assessment Orders and remit the case back to the first respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner that the said partnership firm ceased to exist and the deponent herein took over the business of the partnership firm as the sole proprietor w.e.f. 01.04.2014. To that effect, the learned counsel for the petitioner has produced a copy of the Deed of Dissolution of Partnership drawn on a stamp paper dated 22.02.2011. It is further case of the petitioner that the deponent has been thereafter carrying on the business in the individual capacity as the sole proprietor of the said M/s.Sri Ramajayam Agencies and filed regular returns under PAN No.BEBPP9808R. 5. It is submitted that the deponent was unaware of the notices that were issued to the petitioner for the respective Assessment years under Section 148A(b) of the Income Tax Act, 1961 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is submitted that the petitioner should file statutory appeal against the impugned orders. That apart, it is submitted that deponent has declared a meager taxable income for the respective Assessment Years as follows:- Sl. No. W.P.(MD) No. Assessment Year Taxable Income 1 W.P.(MD) No.16954/ 2024 2019-2020 Rs. 8,28,828/- 2 W.P.(MD) No.16955/ 2024 2018-2019 Rs. 7,39,329/- 9. The learned Senior Standing Counsel for the petitioner would therefore pray for dismissal of these Writ Petitions. 10. By way of rejoinder, the learned counsel for the petitioner would submit that old E-mail ID was inaccessible and therefore, the notices issued to the petitioner for the respective Assessment Years went unnoticed which have culminated in the impugned Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a reply the notices issued under Section 148A(b) of the Income Tax Act, 1961, within a period of 4 months from the date of receipt of a copy of this order. ii. The first 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. iii. The petitioner shall co-operate with the first respondent and shall produce the records if they are called for by the first respondent. iv. It is made clear that in case the petitioner fails to cooperate with the first respondent, the first respondent is at liberty to proceed against the petitioner. v. It is made clear that if the petitioner fails to depos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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