Paramount Polymers Pvt Ltd v. Assistant Commissioner Of Income Tax, Circle -19(1), New Delhi And Anr

$~A-2 IN THE HIGH COURT OF DELHI AT NEW DELHI +W.P.(C) 13480/2022 & CM APPLs.40983-40984/2022 PARAMOUNT POLYMERS PVT LTD ..... Petitioner Through:Mr.GauravJain,AdvocatewithMs.Akshita Goyal and Mr.ShubhamGupta, Advocates.Ms.Akshita Goyal and Mr.ShubhamGupta, Advocates. versus ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -19(1), NEW DELHI AND ANR. ..... RespondentsThrough:Mr.RuchirBhatia,Sr.StandingCounselwithMs.MansieJain,Advocate.CounselwithMs.MansieJain,Advocate. % Date of Decision: 26[th]September, 2022 CORAM: HON'BLE MR. JUSTICE MANMOHANHON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA J U D G M E N T MANMOHAN, J (Oral): 1.Present writ petition has been filed challenging the order dated 31[st]July, 2022 passed under Section 148A(d) along with notice dated 31[st]July,2022 issued under Section 148 of the Income Tax Act, 1961 (‘the Act’) forthe assessment year 2017-18.July, 2022 passed under Section 148A(d) along with notice dated 31[st]July,2022 issued under Section 148 of the Income Tax Act, 1961 (‘the Act’) forthe assessment year 2017-18. 2.Learned counsel for the Petitioner states that the Respondent vide thesaid order sought to justify the reopening of the assessment for thesaid order sought to justify the reopening of the assessment for the assessment year 2017-18 alleging escapement of income to the tune ofRs.33,67,382/- on account of the erstwhile Company being a non-filer, notconsidering the fact that the erstwhile Company got amalgamated with thePetitioner vide an order of NCLT dated 8[th]November, 2017 resulting in themerger of all the transactions entered into by the erstwhile company,including the impugned transactions with the results of the PetitionerCompany for the relevant previous year, and was duly disclosed, and offeredto tax, and also assessed by the respondent-revenue. 3.Learned counsel for the Petitioner states that the Respondentwrongfully passed the order under Section 148A(d) of the Act ignoring thecontentions of the Petitioner that assessment under Section 143(3) of the Acthad already been finalized in case of the Petitioner for the relevantassessment year. He further states that the respondents dropped theproceedings initiated under Section 148A of the Act in case of the erstwhileCompany for the assessment year 2018-19 on the same set of facts, therebycontradicting its own stand.wrongfully passed the order under Section 148A(d) of the Act ignoring thecontentions of the Petitioner that assessment under Section 143(3) of the Acthad already been finalized in case of the Petitioner for the relevantassessment year. He further states that the respondents dropped theproceedings initiated under Section 148A of the Act in case of the erstwhileCompany for the assessment year 2018-19 on the same set of facts, therebycontradicting its own stand. 4.Issue notice. 5.Mr.Ruchir Bhatia, learned counsel for the respondents-revenue,accepts notice. On instructions, he states that the respondents-revenue has noobjection if the file is remanded back to the Assessing Officer for freshconsideration.accepts notice. On instructions, he states that the respondents-revenue has noobjection if the file is remanded back to the Assessing Officer for freshconsideration. 6.Keeping in view the aforesaid statement, the impugned order passedunder Section 148A(d) and notice issued under Section 148 of the Act bothdated 31[st]July, 2022 are set aside and the matter is remanded back to theAssessing Officer for a fresh decision in accordance with law within fourweeks.under Section 148A(d) and notice issued under Section 148 of the Act bothdated 31[st]July, 2022 are set aside and the matter is remanded back to theAssessing Officer for a fresh decision in accordance with law within fourweeks. 7.In the event, the petitioner is aggrieved by the said decision, thepetitioner shall be at liberty to file appropriate proceedings in accordancewith law.petitioner shall be at liberty to file appropriate proceedings in accordancewith law. 6.Keeping in view the aforesaid statement, the impugned order passedunder Section 148A(d) and notice issued under Section 148 of the Act bothdated 31[st]July, 2022 are set aside and the matter is remanded back to theAssessing Officer for a fresh decision in accordance with law within fourweeks.under Section 148A(d) and notice issued under Section 148 of the Act bothdated 31[st]July, 2022 are set aside and the matter is remanded back to theAssessing Officer for a fresh decision in accordance with law within fourweeks. 7.In the event, the petitioner is aggrieved by the said decision, thepetitioner shall be at liberty to file appropriate proceedings in accordancewith law.petitioner shall be at liberty to file appropriate proceedings in accordancewith law. 8.Accordingly, the present writ petition along with applications standsdisposed of.disposed of. MANMOHAN, J SEPTEMBER 26, 2022TS MANMEET PRITAM SINGH ARORA, J