GABI GAFOOR Vs. DEPUTY COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Petitioner challenges an order issued under Sec. 148A(d) of the Income Tax Act, 1961 (for short 'the Act') for the assessment year 2017-18.

(2.) Petitioner is an assessee under the Act. On 20/2/2024, he was served with a notice under Sec. 148A(b) of the Act pointing out that for the assessment year 2017-18, enquiry conducted has brought out information suggesting that income had escaped assessment within the meaning of Sec. 147 of the Act and asked him to show cause why a notice under Sec. 148 of the Act should not be issued. The annexure referred to cash deposits of Rs.19,38,543.00 and aggregate debit of Rs.1,35,37,590.00 from the account of the petitioner. An opportunity of hearing was also granted to him.

(3.) In the reply, petitioner stated that he is an NRI having no taxable income in India except for some interest income. It was further stated that he has not been able to obtain details from the bank and pointed out that the details are not presently available to justify the cash deposit, except that it might have been his family members who would have deposited the amounts. As far as the debit was concerned, it was regrettably stated that he had no details but asserted that there was no income element in it. Petitioner also questioned the time limit for issuing the notice under Sec. 148 of the Act.