Assessee replied to notice and annexed documents relating to purchase of property. Assessing Officer rejected reply and passed an order under section 148A(d) and consequently issued a notice under section 148. Assessee did not participate in proceedings pursuant to notice under section 148. Assessing Officer passed assessment order and added entire sale consideration for purchase of property to total income of assessee. On writ the Court held that since Assessing Officer while passing assessment order had not taken into consideration documentary evidence submitted by assessee perhaps on account of non participation by assessee, Assessing Officer is t directed to provide opportunity of hearing to assessee and pass fresh assessment order. (AY. 2015-16)
Pandian Narayanan v. NFAC (2024) 300 Taxman 559 (Mad.)(HC)
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained investments-Immovable property-Added entire sale consideration-[S. 69, 148, 148A(b), 148A(d), Art. 226]
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