Reassessment notice issued under section 148 just to verify information received by Assessing Officer from VAT Department relating to purchase made by assessee from hawala dealers, was not justified

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Reassessment notice issued under section 148 just to verify information received by Assessing Officer from VAT Department relating to purchase made by assessee from hawala dealers, was not justified
SLP dismissed against High Court ruling that reassessment notice issued under section 148 just to verify information received by Assessing Officer from VAT Department relating to purchase made by assessee from hawala dealers, was not justified
 
[2019] 101 taxmann.com 259 (SC)  SUPREME COURT OF INDIA 
 
Principal Commissioner of Income-tax-5 v. Manzil Dinesh Kumar Shah*
Uday Umesh Lalit AND Ms. Indu Malhotra, JJ. 
 
Special Leave Petition (Civil) Diary No. 45862 of 2018†
 
 
JANUARY  4, 2019 
Section 69, read with section 148, of the Income-tax Act, 1961
 
 – Unexplained investment (Purchasers)
 
 – Assessment year 2009-10 – Return filed by assessee was accepted without scrutiny 
 
– Assessing Officer recorded that information was received from VAT department that huge amount of purchases were made by assessee from hawala dealers 
 
– According to Assessing Officer, such information needed deep verification; he, thus, issued notice under section 148
 
 – High Court by impugned order held that reassessment notice issued under section 148 by Assessing Officer just to verify validity of information was not justified – Whether Special leave petition filed against impugned order was to be dismissed –
 
 Held, yes
 
 [Paras 7 and 9] 
 
[In favour of assessee]

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