9911796707
TMI Blog2024 (12) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... to have been completed in accordance with the new provisions as in force from 01.04.2021 in terms of the decision of Union of India and others Vs Ashish Agarwal [ 2022 (5) TMI 240 - SUPREME COURT] HELD THAT:- Although the re-opening of the Assessment based on the informations gathered from the Investigating Wing of the Income Tax Department from Tirupathi vide Letter dated 04.02.2020 would arm the Department to re-open the Assessment, the ultimate Assessment Order that was passed ought to have give the particulars of the cash transactions of the account of the said employee namely Meruva Sanjeeva Kumar. This has not been mentioned in the impugned order. Therefore, the impugned order is set aside and the case is remitted back to the respond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asons that were furnished to the petitioner vide notice under Section 143(2) read with Section 147 of the Income Tax Act, 1961 refers to the purported credit in the Bank Account of an employee namely Meruva Sanjeeva Kumar by cash to the tune of Rs.30,32,416/- by the assessee company in Account No.067501501730 in ICICI Bank, Vadodara Branch. Relevant portion of the reasons provided for re-opening of the Assessment reads as under:- On verification of the bank statements, it was observed that credits in the bank account of Sri Meruva Sanjeeva Kumar are by cash to the tune of Rs.30,32,416/- made by the assessee company in account No.067501501730 in M/s ICICI Bank, Vadodara Branch used to transfer money as well as deposited cash for disbursement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore notwithstanding the fact that speaking order was passed for the respective Assessment Year on 08.12.2021, the further proceedings which has culminated in the impugned Assessment order dated 30.03.2022 are liable to be declared as without jurisdiction and quashed. 6. The learned Senior Standing Counsel for the respondents on the other hand would submits that impugned orders are well reasoned and does not merit any interference in the hands of this Court under Article 226 of the Constitution of India. It is submitted that the petitioner has merely attempted to distance its liability by referring to the bank transfers made from its account to the said employee which was not relevant. It is submitted that informations based on which ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
