SANJAY AGRAWAL Vs. PRINCIPAL COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Challenge in the present writ petition is the notice dated 06.05.2019 issued by the Respondent No.3. Vide the said notice, the respondents have initiated proceedings for reassessment as per Section 147 of the Income Tax Act, 1961 (in short, the Act).

(2.) Brief facts of the case is that, for the assessment year 2016-17, the petitioner had submitted their return electronically on 15.09.2017. However, subsequently, it is said that some survey was conducted as per Section 133 (A) of the IT Act. In the course of survey, the respondents found that there were many incriminating materials and documents which were impounded. In the course of scrutiny, the Assessment Officer (in short, AO) assessed total income of the petitioner at Rs.1,46,29,270/- as against the returned income of Rs.1,46,29,270/-. It is for this reason that notice under Section 148 of the Act was served upon the petitioner. Thereafter, the petitioner vide letter dated 05.06.2019 sought reasons from the respondents in respect of "Reasons to believe that some income of the assessee has escaped assessment". The Department later on provided the petitioner with the reasons.

(3.) Thereafter, the petitioner raised objection against the decision of reassessment. The objection so raised by the petitioner was rejected by the AO vide communication dated 13.11.2019 giving intimation of the further proceeding with the matter.