The Tax Publishers2022 TaxPub(DT) 8050 (Guj-HC)

INCOME TAX ACT, 1961

Section 147

Where objections had not as yet been disposed of, petition was premature and therefore, not entertained.

Reassessment - Notice under section 148 - Non-disposal of objections -

Petitioner filed return of income declaring total income as nil. Notice was received seeking to reopen case of petitioner. It was say of petitioner that reasons for reopening were broadly on count that petitioner had claimed bogus LTCG on penny stock transaction amounted to Rs. 90,37,264. Hence this writ petition. Held: Petition being pre-matured, it was chosen not to entertain it at this stage. Let disposal on strength of objections raised by petitioner be made by authority concerned within two weeks from date of receipt of copy of this order, on availing opportunity in accordance with law. Writ petition was disposed of.

REFERRED :

FAVOUR : In assessee's favour

A.Y. : 2015-16



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