S.V.S. Securities Pvt. Ltd vs The Assistant Commissioner Of ...
2023 Latest Caselaw 8837 Bom

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                  IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                      ORDINARY ORIGINAL CIVIL JURISDICTION
                              WRIT PETITION NO.2977 OF 2021

S.V.S. Securities Pvt. Ltd.                 ....Petitioner
          V/s.
The Assistant Commissioner of
Income Tax - 4(2)(1) and Ors.       ....Respondents
                                   ----
Mr. Devendra H. Jain a/w. Mr. Ashwin Jain for petitioner.
Mr. Suresh Kumar for respondents.
                                   ----
                              CORAM : K. R. SHRIRAM &
                                         DR. N. K. GOKHALE, JJ.

DATED : 29th AUGUST 2023

P.C. :

1 One of the main ground in the petition is that reason to believe

has not been furnished. It is alleged in paragraph 4.5 of the petition that

petitioner, by its letter dated 10th October 2020, brought to the notice of

respondents that petitioner has not yet received the reasons for re-opening.

Despite that, the reasons were not made available. Petitioner once again,

while filing its objections to re-opening, has stated that they have been

provided only extract of reasons. Despite the specific averment in the

petition, no affidavit in reply has been filed though on 31 st August 2021 this

Court had directed respondents to file reply within two weeks.

2 Therefore, petitioner not having supplied the reasons to

believe, in our view, even the order rejecting petitioner's objections relying

on the extract provided also has to be quashed and set aside, which we

hereby do.

Gauri Gaekwad





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3                The matter is remanded to the Jurisdictional Assessing Officer

(JAO), who shall within one week from today make available to petitioner

reasons to believe as recorded in the notice dated 4 th February 2020 issued

under Section 148 of the Income Tax Act, 1961 together with necessary

satisfaction obtained from the RANGE 4(2), Mumbai. Within two weeks

thereafter, petitioner is at liberty to file a fresh reply or can rely on the reply

already filed. Thereafter, within four weeks, order on objections to be

passed and before passing any order, personal hearing shall be given to

petitioner, notice whereof shall be communicated atleast five working days

in advance. If the JAO is going to rely on any order or judgment of any High

Court or Tribunal, then a list thereof shall be provided to petitioner

alongwith the notice of personal hearing so that petitioner may be able to

deal with/distinguish those orders/judgments. Thereafter, the assessment

order, if any, to be passed after four weeks from the date of order of

objections.

4                Petition disposed.

5                We clarify that we have not made any observation on the

merits of the matter.




(DR. N. K. GOKHALE, J.)                                 (K. R. SHRIRAM, J.)




Gauri Gaekwad