Dismissing the petition the Court held that presenting the writ petition on the same day of lodging of objections to the notice of reassessment. The assessee had pursued the writ remedy as a parallel remedy, which was impermissible in law. Moreover, at least, prima facie, the contention of the assessee of an error of jurisdictional fact having vitiated the proceedings initiated by the Assistant Commissioner was not tenable. The notice of reassessment was valid.( AY.2016-17)
John Sebastian Zezito Lobo v. ACIT (2021)439 ITR 537 / 283 Taxman 229 ( Panji Bench ) (Bom) (HC)
S. 147 : Reassessment –With in four years- Jurisdictional issue – Capital gains –Large deduction of expenses – Exemption claimed – Prima facie showing escapement of income – Notice of reassessment is held to be valid – Writ is held to be not maintainable [ S. 45, 54F , 143(1), 148 , Art , 226 ]