Satva Merchandize (P.) Ltd. v. ITO (2022) 284 Taxman 336 (Guj.)(HC)

S. 147 : Reassessment-Unexplained money-Rotation of undisclosed income-FIR filed by CBI-Writ petition was withdrawn. [S. 69A, 148, Art. 226]

Reopening proceedings had been initiated by Assessing Officer after satisfaction with independent application of mind and also recording reasons in writing. The Assessee filed the writ petition. After hearing both sides  and examining the materials on record and FIR filed by CBI the Court was disinclined to entertain  the petition. Petition was withdrawn. (AY. 2012-13)