Assessee is engaged in business of trade in fish on a fixed commission basis. ITO, on basis of the report available in the Insight portal, observed that cash deposits of Rs. 1.76 crores made by assessee in two bank accounts remained as unexplained money. Accordingly, the AO\u00a0 issued notices under sections 148 and 142(1) directing the assessee to explain source of income and furnish bank statement for the financial year 2013-14.However, the assessee did not make any compliance. Accordingly, a draft order proposing variation to this effect was sent for approval on and post-approval, an assessment order was passed making an addition of Rs. 1.76 crores under section 69A.On dismissing the writ petition, the Court held that in proposal for scrutiny, reasons for selection were duly recorded. Range Head and CIT\/PCIT have also stated in their approval order that they were satisfied with the reasons recorded by the Assessing Officer, and it was a fit case for issuing notice under section 148. Since there was due approval under section 151 from competent authorities, it was not a case of jurisdictional error for invoking an extraordinary writ jurisdiction. Court also observed that if there is delay in filing the statutory appeal Period of delay due to pendency of the writ petition is to be condoned in application, if any, for condonation of delay.\u00a0 (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144B : Faceless Assessment-Reassessment-Procedure complied with-No jurisdictional error-Alternative remedy-Writ petition dismissed-Statutory appeal period of delay due to pendency of writ petition to be condoned in application, if any, for condonation of delay. [S.144, 148, 151, 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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65445","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-h1z","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65445","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=65445"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65445\/revisions"}],"predecessor-version":[{"id":65446,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65445\/revisions\/65446"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}