AMBIKA KAPUR Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Present writ petition has been filed challenging the order dtd. 21/4/2022 passed under Sec. 148A(d) of the Income Tax Act, 1961 ('the Act') along with notice dtd. 21/4/2022 issued under Sec. 148 of the Act for the assessment year 2018-19 and proceedings initiated pursuant thereto.

(2.) Learned counsel for the Petitioner states that the Respondent initiated the proceedings under Sec. 148A of the Act on the basis of an incorrect assumption of fact that the petitioner had not filed her return of income and hence income to the tune of Rs.30,57,78,545.00in relation to financial transactions entered by the Petitioner during the year, had escaped assessment.

(3.) Learned counsel for the Petitioner states that the Petitioner filed a detailed reply dtd. 14/4/2022, wherein the Petitioner explained to the Respondent that contrary to the allegations, the Petitioner had filed return of income for the relevant assessment year and further disclosed all the financial transactions alleged to have escaped assessment in the said return of income, except for one alleged transaction amounting to Rs.3,79,08,575.00 of which the Petitioner had no knowledge and further requested the Respondent to provide details about the said transaction.