Assessee’s assessment was sought to be reopened on ground that as per information received from GST department, assessee had made bogus purchases from a dummy company. Assessee submitted that it had purchased MS Ingot from said company but denied that purchases were bogus and claimed that same were duly recorded in books of account.\u00a0 Assessee also provided copies of purchase bills, E-way bills, transporter builty, toll tax receipts and screen shot of GSTR-1 filed through GST portal. Assessing Officer,\u00a0 rejected evidence furnished by assessee and held that it was a fit case for re-opening of assessment. On writ the Court held Investigation Wing had conducted an enquiry and found that no action in case of another company GFPL and assessee, was recommended. Disregarding response furnished by assessee solely for reason of information on portal and simply reiterating information as available, would render procedure under section 148A meaningless. Accordingly reopening notice issued against assessee was\u00a0 set aside. \u00a0(AY. 2020-21)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained expenditure-Bogus purcahses-Information received from GST department-Disregarding response furnished by assessee solely for reason of information on portal and simply reiterating information as available, would render procedure under section 148A meaningless-Accordingly reopening notice issued against assessee was set aside [S. 69C, 148A(b), 148A(d), Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-59310","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fqC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=59310"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59310\/revisions"}],"predecessor-version":[{"id":59311,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59310\/revisions\/59311"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}