9911796707
TMI Blog2025 (1) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner, issued an order holding that it was a fit case for issuance of notice u/s 148. AO had also noted that the Goods and Service Tax Identification Numbers (GSTIN) of the said dealer (Ajay Gupta) had been cancelled as the concerned authorities had found that the said entities were not involved in actual business activities but were mere shell entities. After issuance of notice u/s 148 AO had also issued notices u/s 142 (1) of the Act and the reassessment proceedings are being conducted. The petitioner has also filed his response to the said notices. The contention that the petitioner was not afforded sufficient time to file a reply to the notice issued u/s 148A (b) of the Act is unpersuasive. The said ground clearly appears to be an af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e dated 21.03.2024 passed under section 148A (b) of the Income Tax Act, 1961 (hereafter the Act) as well as an order dated 30.03.2024 passed under Section 148A (d) of the Act. Additionally, the petitioner also impugns a notice dated 30.03.2024 issued under Section 148 of the Act. 4. The petitioner s challenge to the aforesaid notices and the order is premised on the basis that the petitioner was not granted seven days to file a response to the notice issued under Section 148A (b) of the Act. The said notice was issued on 21.03.2024 and the petitioner was provided seven days to respond to the same. However, three days out of seven days were holidays and, therefore, the petitioner claims that he did not get seven working days to respond to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount; a copy of confirmation of balance in the books of the petitioner; a copy of purchase invoices; and a copy of bank statement reflecting the payments made to M/s Gupta Paper Marts. 9. The documents provided by the petitioner would establish that the payments had been made to Shri Ajay Gupta through banking channels. However, the same does not address the allegation of purchases reflected were accommodation entries. It is well settled that the accommodation those entries are entries where payments are made through banking channels but the same are not against any genuine commercial transaction and are compensated by reverse payments in cash. 10. In the present case, the petitioner was required to clearly show the movement of goods to est ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e issue of notice under section 148. The Assessing Officer shall, before issuing any notice under section 148, (a) *** *** *** (b) provide an opportunity of being heard to the assessee, by serving upon him a notice to show cause within such time, as may be specified in the notice, being not less than seven days and but not exceeding thirty days from the date on which such notice is issued, or such time, as may be extended by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year and results of enquiry conducted, if any, as per clause (a); (c) *** ** ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
