Overt Trding Pvt.Ltd v. Income Tax Officer Ward-10(3)(2)

Digitally signed by GAURI AMIT GAEKWAD Date:

2022.02.02 11:01:06 +0530 GAURI AMIT GAEKWAD 1/1 424.WP-625-2020.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.625 OF 2020 Overt Trading Private Limited ....Petitioner V/s.

Income Tax Officer, Ward - 10(3)(2) ....Respondent ---- None for petitioner.

Mr. Akhileshwar Sharma for respondent.

---- CORAM : K.R. SHRIRAM & N.J. JAMADAR, JJ.

DATED : 31st JANUARY 2022 P.C. :

We have perused the petition and the documents annexed thereto with the assistance of Mr. Sharma.

From the reasons recorded for reopening we find that there is some tangible material. The assessee had filed return of income on 30th September 2012 declaring total income of Rs.1,60,430/-. The return was processed under Section 143(1) of the Income Tax Act, 1961. Subsequent thereto, information has been received from Deputy Director of Income Tax (Investigation) about certain unexplained transaction running into crores of rupees in the account of petitioner. We cannot say that the material disclosed is speculative or baseless. In the circumstances, petition dismissed.

(N.J. JAMADAR, J.) (K.R. SHRIRAM, J.) Gauri Gaekwad