RAGHAV BAHL Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard Sri Rakesh Pandey, learned Senior Advocate, assisted by Sri Amit Kumar Singh and Sri Prashant Kumar, learned counsel for the petitioner and Sri Ashish Agrawal, learned counsel for respondents and perused record.

(2.) This petition under Article 226 of Constitution of India has been preferred seeking following relief:

(3.) It has been argued by the learned counsel for the petitioner that the petitioner, who is a journalist and editor, has entered into Sale and Purchase Agreement dated 30.11.2015 with ST George Blackfriars Limited to purchase a property in London (foreign asset) against consideration of GBP 2,725,000/ and details of said property were duly disclosed in the Income Tax Return of petitioner and that source of payments, which were made to purchase the alleged property, were also disclosed. The petitioner has made first payment of GBP 10,000 & 262500 from his foreign account and second payment of GBP 272,500 was made from foreign account of his daughter Ms Tara Bahl and thereafter through assignment deed dated 01.11.2017 petitioner has assigned his interest in said property to RBRK Investment Limited. It was submitted that a search under Section 132(1) of Income Tax Act was conducted by Income Tax Authorities at the residence and office premises of the petitioner and certain documents were seized and thereafter Income Tax Officer issued a show-cause notice dated 02.11.2018 against Ms. Tara Bahl, daughter of the petitioner, under Section 276C of the Income Tax Act 1961 for Assessment Year 2017-18 and 2018-19 and under Section 50 and 51 of the Black Money (Undisclosed Foreign Income and Asset) and Imposition of Tax Act, 2015) and another notice dated 02.11.2018 was issued against petitioner under Section 276C of the Income Tax Act 1961 for Assessment Year 2018-19 and under Section 50 and 51 of the Black Money Act, 2015, which were duly replied by their authorized representative/ Chartered Accountant. Again show cause notice dated 22.11.18 issued by the Income Tax Officer, which was replied vide reply letter dated 28.11.2018. Similarly, the show cause notice dated 07.12.18 under Section 50 of the Black Money Act, 2015 issued to the petitioner for the Assessment Year 2017-18 was also replied by reply dated 12.12.2018.