HOTEL REVINE PALACE Vs. GOVERNMENT OF INDIA

JUDGEMENT

(1.) The application seeking condonation of delay is not opposed by Mr. H.M. Bhatia, learned Senior Standing Counsel for the Income Tax department i.e. respondent Nos. 2 and 3; and the delay is, therefore, condoned.

(2.) This appeal is preferred by the assessee against the order passed by learned Single Judge in WPMS No. 3699 of 2018 dated 14.05.2019. The appellant herein filed WPMS No. 3699 of 2018 against the order dated 27.11.2018 whereby proceedings were initiated under Section 147/148 of the Income Tax Act, 1961, along with the notice dated 23.03.2018, against the petitioner for the assessment year 2016-17; and for a mandamus, directing and commanding the respondent-Income Tax department to drop the assessment/reassessment proceedings initiated under Section 147/148 of the Income Tax Act, 1961 in relation to the assessment year 2016-17 being void ab initio, illegal, arbitrary and without jurisdiction.

(3.) By his proceedings dated 23.03.2018, the Income Tax Officer recorded reasons for initiating proceedings under Section 147 of the Act. By his proceedings dated 27.11.2018, the Income Tax Officer informed the petitioner that their case had been selected for assessment, under Section 147 of the Income Tax Act, 1961, based on the valuation report of the Government approved valuer approved by the Chief Commissioner of Income Tax. The valuation report dated 28.03.2016 was submitted by the assessee himself to the State Bank of India, Main Branch, Kotdwar for sanction of a loan.