SURESH KUMAR KOTHARI (HUF) Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) PETITIONER is calling in question assessment order dated 30.06.2014 passed by the respondent - Income Tax Officer exercising powers under Section 143(3) read with Section 147 of the Income Tax Act, 1961 (for short, the Act'), for the assessment year 2008 -09 vide Annexure -C and the consequential demand notice dated 30.06.2014 issued vide Annexure -D.

(2.) FACTS leading to this writ petition briefly stated are, that petitioner submitted his return of income for the assessment year 2008 -09 on 14.09.2008 declaring his income at Rs. 2,75,540/ -. The said return was accepted. Subsequently, notice under Section 148 of the Act was issued on 30.06.2014 for re -opening the assessment. In response, petitioner requested the respondent that the return filed earlier could be treated as return in response to the notice. Thereafter, respondent concluded the assessment on 30.06.2014 by adding a sum of Rs. 5,87,170/ - which is stated to be the amount pertaining to certain shares purchased by the petitioner out of the income that had allegedly escaped assessment. Accordingly, tax and interest has been levied by the respondent. It is this order that is challenged in this writ petition.

(3.) IT is not in dispute that petitioner was not furnished with the copy of the statement said to have been made by Mukesh Choksi. Petitioner was not aware of the contents of the said statement. However, he filed objections contending inter alia that it was not known how a statement made by third party could be made applicable and made basis for the proceedings that were sought to be initiated. He also points out by way of objection that in the absence of specific allegations made against the petitioner in the so -called sworn statement, the same could not have been made basis to pass the assessment order against the petitioner.