Aachman Marketing Private Limited & Anr. Vsdeputy Commissioner Of Income Tax & Anr v. Ganpati Dealcom (P.) Ltd.reported In (2022) 141 Taxmann. Com 389 (Sc). Theallegation Of The Respondent Authority Is That The

17.7.2023 ks sl. 14 ks WPA 15393 of 2023 Aachman Marketing Private Limited & Anr. VsDeputy Commissioner of Income Tax & Anr. Mr. Abhratosh Mazumder, Ld. Sr. Adv.,Mrs. Akshara Shukla … For the Petitioners.Mrs. Smita Das De … For the Respondents. Heard learned Advocates appearing for the parties. By this writ petition, petitioners have challengedthe impugned show-cause-notice dated 30[th] May,2023, under Section 24 of the Prohibition of BehamiProperty Transaction Act, 1988 by which petitionerswere asked to give reply to the same within 15 daysfrom the date of receipt of the said show-cause-noticeand a date of hearing was also fixed on 13[th] June,2023, which the petitioners did not avail and filed thiswrit petition on 30[th] June, 2023, after expiry of thedate of filing of such reply to the impugned show-cause-notice and after the expiry of the date ofhearing. Petitioners are challenging the impugnedshow-cause-notice on the ground of jurisdiction of therespondent authority concerned and petitioners relyon a decision of the Hon’ble Supreme Court in the caseof Union of India vs. Ganpati Dealcom (P.) Ltd.reported in (2022) 141 taxmann. com 389 (SC). Theallegation of the respondent authority is that the petitioners have invested in movable property in theform of mutual fund in question amounting toRs.77,16,157/- in the financial year 2018-19 thoughMr. Mazumder, learned senior Advocate appearing forthe petitioners submits that the alleged transactionagainst which the impugned show-cause-notice hasbeen issued relates back to the financial year 2014-15. Considering the facts and circumstances of thecase I am not inclined to interfere with the impugnedshow-cause-notice at this stage and extending the timeto file objection/response to the aforesaid impugnedshow-cause-notice by a period of two weeks from dateand the respondents authority concerned shallconsider the same in accordance with law and pass areasoned and speaking order after giving anopportunity of hearing to the petitioners of itsauthorised representative and shall also consider theapplicability of the aforesaid judgment of the Hon’bleSupreme Court, namely Union of India vs. GanpatiDealcom (P.) Ltd.(supra) and such final order on theimpugned show-cause-notice will be passed by therespondents authority concerned within a period offour weeks form the date of receipt of suchobjection/response and the order so passed shall notbe given effect to for a period of two weeks from thedate of service of the same on the petitioners and the petitioners will be at liberty to challenge the same, if soaggrieved in accordance with law. With this observation and direction this writpetition being WPA 15393 of 2023 is disposed of. ( Md. Nizamuddin, J. )