Britney Trading Private Limited v. N.j. Jamadar, Jj

GAURIAMITGAEKWAD Digitallysigned byGAURI AMITGAEKWADDate:2022.02.0211:01:10+0530 IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.425 OF 2020 Britney Trading Private Limited ….Petitioner V/s. Income Tax Officer Ward – 12(1)(3) ….Respondent ---- None for petitioner.Mr. Sham V. Walve for respondent – Revenue. ---- CORAM : K.R. SHRIRAM & N.J. JAMADAR, JJ. DATED : 31[st] JANUARY 2022 P.C. : 1We have perused the petition and the documents annexedthereto with the assistance of Mr. Walve. 2From the reasons recorded for reopening we find that there issome tangible material. The assessee had filed return of income on30[th] September 2012 declaring loss of Rs.23,171/-. The return wasprocessed under Section 143(1) of the Income Tax Act, 1961. Subsequentthereto, information has been received from DIT (Inv.) about certainunexplained transaction running into crores of rupees in the account ofpetitioner. We cannot say that the material disclosed is speculative orbaseless. 3In the circumstances, petition dismissed. (N.J. JAMADAR, J.) (K.R. SHRIRAM, J.)