Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2022 (7) TMI 1562

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ount of Rs. 2,40,00,000/- to the buyer through normal banking channel. The petitioner appears to have furnished the details of the seller pursuant to communication dated 28.03.2022. The petitioner had also uploaded copy of the sale deed dated 14.08.2014, copy of the plaint filed before the District Munsif Court, Chengalpattu against various persons. The respondent has however passed the impugned o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n. The document was registered in the year 2014, however, the alleged petition was filed in the year 2015. The copy of the petition furnished by the assessee is partly unclear and there is no acknowledgement by the Court in the petition. This clearly shows that the assessee prepared these documents to evade tax by not explaining the source for purchase of the abovementioned property. The assessee .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... particulars of its income, penalty proceedings u/s 271(1)(c) of the Income Tax Act, 1961 is initiated separately. 2. The specific case of the petitioner is that the petitioner was called upon to furnish the details of the purchaser, by a letter dated 17.03.2022 which was responded by the petitioner on 22.03.2022 and 28.03.2022. It is further submitted that the petitioner had purchased the property .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... respondent shall proceed and pass the order. 4. On the other hand, the learned counsel for the respondent would submit that the notice under Section 148 of the Income Tax Act, was issued on 24.03.2021. However, the petitioner filed the return only on 08.03.2022. It is submitted that the petitioner was not cooperating with the income tax department. Therefore, the respondent was constrained to pass .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ndent is directed to pass a fresh order within a period of six months from the date of receipt of copy of this order. The petitioner is directed to cooperate with the respondent. The petitioner shall furnish all details regarding the sale transaction and status of the suit. 7. With the above direction, this Writ Petition is disposed of. Consequently, connected miscellaneous petitions are closed. T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates