NARAYAN KUMAR Vs. PRINCIPAL CHIEF COMMISSIONER OF INCOME

JUDGEMENT

(1.) The petitioner, an assessee under the Income Tax Act, 1961 (for brevity, the Act) is aggrieved with an assessment order passed after a notice issued under Sec. 148 of the Act.

(2.) We have heard the learned Counsel appearing for the petitioner and the learned Senior Standing Counsel appearing for the department.

(3.) The assessment relates to the year 2017-18, for which period the petitioner had filed a return on the due date itself, which is produced as Annexure-1. Later in the year 2021, the petitioner received a notice under Sec. 148 of the Act produced as Annexure-2. The petitioner filed the very same return furnished earlier, as is seen at Annexure-3. Later, after about five months, the petitioner received Annexure-4 notice under Sec. 142(1) of the Act. It was in the said notice that for the first time, the petitioner was informed of an information pertaining to the financial years 2015-16 and 2016-17, in relation to sales made by one M/s Aryan Trading Company. The notice indicated that according to the enquiry report, the sales made by M/s Aryan Trading Company was bogus and the purchases made from the said entity, by the petitioner, amounting to Rs.50,40,218.00 was liable to be added to the total income of the petitioner.