PRAKASH LAL KHANDELWAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Heard learned counsel for the parties.

(2.) Writ petitioner approached this Court with multiple reliefs: -

(3.) The brief facts of the case as enumerated in the writ application is that the petitioner is engaged in the business of trading of coal and has been carrying out the said business for more than 15 years. For the period i.e., Assessment year 2014-2015 corresponding to previous 2013-2014, the petitioner filed its Income Tax Return declaring a total income of Rs.3,68,490.00. However, the case was selected for limited scrutiny through CASS and notices were issued to the petitioner u/s 143(2) and 142(1) of the Act. In the audited balance sheet certain inadvertent error had crept in and the same was duly rectified by the petitioner much prior to initiation of any proceeding; the said revised audited balance sheet has never been rejected.