RAVINDRA PARASRAMKA Vs. UNION OF INDIA

JUDGEMENT

(1.) This intra-Court appeal by the writ petitioner is directed against the order dtd. 9/6/2023 in W.P.A. 11090 of 2023. In the said writ petition, the appellant had challenged an order passed by the assessing officer under Sec. 148A(d) of the Income Tax Act, 1961 on the ground that it has been passed without any application of mind, without considering the response given by the assessee to the notice issued under Sec. 148A(a) dtd. 3/3/2023 and the response given by the assessee to the notice dtd. 14/3/2023 under Sec. 148A(b) of the Act.

(2.) The assessee was issued notice under Sec. 148A(a) dtd. 3/3/2023 stating that for the relevant assessment year i.e.2016-2017, it has been noticed that the assessee had financial activities/transactions viz. (1) purchased immovable property valued at Rs.140.00 lakhs, (2) sale of equity shares (settled by the actual delivery or transfer) in a recognised stock exchange valued at Rs.19,000.00. The assessee was directed to furnish its reply.

(3.) The assessee submitted their reply dtd. 13/3/2023 categorically stating that the information that the purchase price of immovable property for Rs.140.00 lakhs is incorrect and the property was purchased for Rs.70.00 lakhs only, which was purchased in the joint names of the assessee and his spouse and there was no difference in stamp duty value and actual consideration and the total consideration paid and how the funds were raised were mentioned in the reply. The copy of the registered sale deed was attached to the reply and the assessee also sought for information and details of Rs.140.00 lakhs as per the records of the department so that to further clarify the matter.