Wp/625/2020 Of Overt Trding Pvt.ltd v. Income Tax Officer Ward-10(3)(2)
High Court
31 Jan 2022 In favour of: Revenue
Forum / Bench
High Court · newos
Parties
Wp/625/2020 Of Overt Trding Pvt.ltd v. Income Tax Officer Ward-10(3)(2)
Date of order
31 Jan 2022
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Wp/625/2020 Of Overt Trding Pvt.ltd v. Income Tax Officer Ward-10(3)(2), the High Court (2022) dismissed the appeal. The decision went in favour of the Revenue.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
Digitallysigned byGAURIGAURI AMITGAEKWADAMITDate:GAEKWAD2022.02.0211:01:06+0530
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO.625 OF 2020
Overt Trading Private Limited ….Petitioner V/s.Income Tax Officer, Ward – 10(3)(2) ….Respondent
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None for petitioner.Mr. Akhileshwar Sharma for respondent.
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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. Sharma.
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 total income of Rs.1,60,430/-. The returnwas processed under Section 143(1) of the Income Tax Act, 1961.Subsequent thereto, information has been received from Deputy Director ofIncome Tax (Investigation) about certain unexplained transaction runninginto crores of rupees in the account of petitioner. We cannot say that thematerial disclosed is speculative or baseless.
3In the circumstances, petition dismissed.
(N.J. JAMADAR, J.)
(K.R. SHRIRAM, J.)
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