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TMI Blog2024 (7) TMI 1555X X X X Extracts X X X X X X X X Extracts X X X X ..... ) was issued. In our considered opinion, there is no dispute regarding explanation given under Section 148 regarding information that can be relied upon by the Assessing Officer to reopen assessment of escaped income. Revenue Audit Objections can be considered as a valid ground for opening assessment that has concluded. This Court is of the considered opinion that the reply of the petitioner had specifically asked for documents to be supplied including complete case proceedings and for personal hearing, which was not given. AO has acted in undue haste. The orders u/s 148A(d) and u/s 148 are set aside. The respondents shall provide all relevant documents that have been asked for by the petitioner in his representation by making payment of ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of the petitioner that the petitioner and his brother conducted their separate businesses of trading of jewellery under the name of M/s Sidhnath Abhushan Bhandar and M/s Bhandari. R. Traders from a shop at Shiv Prasad Chowk, Lucknow. They, later on, acquired another shop at Bahoran Tola, Chowk, Lucknow for expansion of their respective businesses. The petitioner and his brother shifted to the new premises at Bahoran Tola, Chowk, Lucknow on 03.02.2020. The respondents initiated search and seizure operation under Section 132 of the Income Tax Act at the joint shop of the petitioner at Bahoran Tola, Chowk, Lucknow on 12.02.2020. During the search and seizure operations cash, gold jewellery and silver jewellery were found alongwith loo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 27.03.2024. The petitioner submitted a detailed reply wherein he asked for copies of Audit Objections and all relevant documents and also asked for personal hearing, a copy of the reply dated 12.04.2024 has been filed as Annexure-12 to the writ petition. However, order has been passed by the Respondent under Section 148A(d) of the Act on 24.02.2024 rejecting the reply submitted by the petitioner without providing him copies of Audit Objections and also without providing him opportunity of personal hearing. A notice under Section 148 of the Act has also been issued on the same date on 24.02.2024, proposing reassessment of income. On 06.05.2024, the petitioner again applied for certified copies of the record of assessment proceedings as wel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on 19.02.2024. 8. We have gone through the judgements cited by the learned counsel appearing for the respondents no.2 3 and paragraph-6 thereof, which is being quoted herein below:- 6. Learned Counsel for the petitioner has placed reliance on the judgment of the Supreme Court in the case of Indian and Eastern Newspaper Society v. Commissioner of Income Tax'. However, the said judgment was rendered when there was no such clause as has been inserted with effect from 01.04.2022 in Explanation 1 of Section 148 of the Act. Therefore, in my view, the said judgment is of no relevance to the facts of the present case. In the present case, the provisions have been drastically changed with effect from 01.04.2022, and the audit objection is one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be given at the stage of issuance of show cause notice under Section 148A(b) and before passing of the order under Section 148A(d). It has also been observed by the Division Bench that thrashing out of evidence and relevant statutory provisions shall be considered only after the order under Section 148 for reopening of assessment is passed. 12. Learned counsel for the respondents no. 2 3 has also relied upon the judgment rendered by the Hon'ble Supreme Court in the Case of Raymond Woollen Mills Ltd. Vs. Income Tax Officer and Others reported in 2008 (14) SCC 218 and also in the case of Anshul Jain Vs. Principal Commissioner of Income Tax in Special Leave to Appeal No. 14823 of 2022 decided on 02.09.2022. 13. We do not dispute the la ..... X X X X Extracts X X X X X X X X Extracts X X X X
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