INCOME TAX ACT, 1961

Section 147

Reassessment - Order issued under section 148A(d) - Proceedings on deactivated PAN -

In present case, Respondent conducted impugned proceedings on deactivated PAN AAAFM2684G. He stated that Petitioner had repeatedly communicated to Respondent that it had made all income tax related compliances on correct/active PAN AAAFM7234J as all relevant financial transactions had been fully recorded and accounted for in regular audited final accounts of Petitioner and thus no income had escaped assessment in its hands. But, respondent contended that assessee had filed no response on merits of case and hence Rs. 12,06,84,903 was determined as income having escaped assessment in form of stock/bills of entry for import. Hence this writ petition. Held: Interest of justice would be served if Petitioner was given an opportunity to file a supplementary reply to notice issued under section 148A(b). Consequently, impugned order passed under section 148A(d) and notice issued under section 148 , both for assessment year 2015-16 were set aside and Petitioner was directed to file a supplementary reply to notice issued under section 148A(b) within four weeks. AO shall pass a fresh order under section 148A(d) within eight weeks thereafter in accordance with law. Since proceedings were being conducted on a deactivated PAN, AO was directed to entertain e-mails/hard copies of replies/materials/evidences filed by Petitioner.

REFERRED :

FAVOUR : In assessee's favour

A.Y. : 2015-16

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