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TMI Blog2024 (12) TMI 915X X X X Extracts X X X X X X X X Extracts X X X X ..... emitted to the respondent No. 1 to pass a fresh de novo order considering the replies filed by the petitioner dated 13.02.2024 and 21.02.2024. We make it clear that no further opportunity of hearing is required to be given to the petitioner as the petitioner did not file any reply to the show-cause notice dated 08.03.2024. Such exercise shall be completed within a period Twelve weeks from the date of receipt of copy of this order. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MR. JUSTICE D.N.RAY Appearance : For the Petitioner(s) No. 1: Mr Dhinal A Shah (12077). For the Respondent(s) No. 2: Karan G Sanghani (7945). ORAL ORDER (PER : HONOURABLE MR. JUSTICE BHARGAV D. KARIA) 1. Heard learned advocate Mr. Dhinal A. Shah for the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner of selection of case for scrutiny followed by notices dated 20.11.2023, 29.12.2023 and 18.01.2024 issued under Section 142 (1) of the Act. 7. The petitioner filed reply to the show-cause notices on 13.02.2024 21.02.2024 by submitting the synopsis of all the transactions undertaken by the petitioner during the period under consideration. 8. The respondent No. 1 further issued show-cause notice dated 08.03.2024, proposing certain variations in the income of the petitioner for the Assessment Year 2019-20. The petitioner-firm could not reply to the show-cause notice at the relevant point of time, thereafter the impugned assessment order was passed. 9. This Court passed the following order on 01.05.2024:- 1. Heard learned advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the I.T. Act, 1961. Hence, amount of Rs. 1,91,35,55,435/- added to your income under section u/s 69A of Income Tax Act, 1961, and is liable to be taxed in accordance with the income tax provisions of section 115BBE of the I.T. Act, 1961. Addition to made Rs. 1,91,35,55,453/-. 2.1 Referring to the above observations, it was submitted that except the above, the Assessing Officer has not discussed any reply filed by the petitioner. 2.2 Learned advocate invited our attention to the replies filed by the petitioner in response to the notices under Section 142 (1) of the Act dated 29th December, 2023 and 18th January, 2024 which are available from Page No. 102 to 117 showing uploading of the reply and attachments of the petitioner in response ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Counsel Mr. Karan Sanghani appearing for the respondents could not controvert the fact that the respondent No. 1 has failed to consider the replies filed by the petitioner on 13.02.2024 and 21.02.2024. 12. Considering the above facts and circumstances of the case, the impugned order dated 21.03.2024 is required to be quashed and set aside, so as to enable the respondent-Assessing Officer to pass a fresh de novo order taking into consideration, the replies dated 13.02.2024 and 21.02.2024 filed by the petitioner. 13. In view of the foregoing reasons, the petition succeeds in part and is accordingly allowed by quashing and setting aside the impugned Assessment Order dated 21.03.2024 and matter is remitted to the respondent No. 1 to pass a f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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