LAKSHMAN PRASAD AGARWAL Vs. UNION OF INDIA

JUDGEMENT

(1.) The Court: Heard learned Counsel appearing for the parties.

(2.) In this Writ Petition petitioner has challenged the impugned notice dtd. 26/3/2021 under Sec. 148 and final assessment order dtd. 31/3/2022, under Sec. 147/143 (3) of the Income Tax Act, 1961, relating to assessment year 2017-18 raising a demand of Rs.8,57,19,806.00.

(3.) Peculiar facts involved in this case as appears from record annexed to the Writ Petitioner by the petitioner itself is that on 26/10/2021 petitioner received the impugned notice under Sec. 148 of the Act by which it was asked to file a return in the prescribed form for the relevant assessment year as appears at Page 38 of the Writ Petition and in response to the said notice petitioner filed a return on 9/10/2021. Thereafter, as appears from Page 45 of the Writ Petition that on 22/10/2021 petitioner 's authorised representative one Murarka and Associates asked the Assessing Officer for furnishing of the recorded reason for issuance of the aforesaid notice. It appears at Page 48 of the Writ Petition that the respondent Assessing Officer concerned furnished recorded reason to the petitioner on 26/10/2021 and after finding no response or any objection from the petitioner against the impugned notice under Sec. 148 of the Act, the Assessing Officer concerned, having no option, proceeded with the impugned reassessment proceeding by issuing notice under Sec. 142 (1) of the Act, on 6/12/2021, asking the petitioner to furnish the relevant accounts and documents as referred in the said notice, within 13/12/2021, as appears at Page 51 of the Writ Petition. In compliance of the aforesaid notice dtd. 6/12/2021, under Sec. 142 (1) of the Act, the said authorised representative submitted relevant documents on 13/12/2021, with specific request to the Assessing Officer that "Considering the same, we request you to complete the proceeding initiated u/s 147 of the Income Tax Act, 1961 without drawing any adverse inference " as appears from Annexure- P-7 at Page 53 of the Writ Petition. It appears from the aforesaid compliance letter dtd. 13/12/2021, written by the said authorised representative that nowhere it has challenged the legality and validity of the impugned notice under Sec. 148 or initiation of the impugned proceeding under Sec. 147 of the Income Tax Act, 1961, and petitioner itself had chosen not to object to the aforesaid impugned notice and proceeding on or after receiving the aforesaid notice under Sec. 148 of the Act and the recorded reason rather petitioner himself had requested the Assessing Officer to complete the impugned reassessment proceedings under Sec. 147 of the Act.