CAPITAL PROPERTY CONSULTANTS THROUGH AUTHORIZED REPRESENTATIVE MR. LALIT POPLI vs ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 31, DELHI

Judgment text excerpt

$~20 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 07.01.2025 + W.P.(C) 16238/2024 and CM APPL. 68208/2024 CAPITAL PROPERTY CONSULTANTS THROUGH AUTHORIZED REPRESENTATIVE MR. LALIT POPLI .....Petitioner Through: Mr Gaurav Jain, Mr Shubham Gupta and Ms Shalini, Advocates. Versus ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 31, DELHI .....Respondent Through: Mr Abhishek Maratha, SSC, Mr Apoorv Agarwal, Mr Parth Samwal, JSCs, Ms Nupur Sharma, Mr Gaurav Singh, Ms Muskaan Goel, Mr Himanshu Gaur and Mr Kamakshraj Singh, Advocates for the Revenue. CORAM: HON'BLE THE ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE TUSHAR RAO GEDELA VIBHU BAKHRU, ACJ (Oral) 1. The petitioner has filed the present petition, inter alia, impugning an order dated 02.05.2024 (hereafter the impugned order) passed under Section 148A(d) of the Income Tax Act, 1961 (hereafter the Act) and also impugning a notice dated 02.05.2024 (hereafter the impugned notice) issued Signature Not Verified Digitally Signed By:RAM W.P.(C) 16238/2024 Page 1 of 10 KUMAR Signing Date:16.01.2025 12:39:45 under Section 148 of the Act in respect of the assessment year (AY) 2020- 21. The impugned notice was preceded by two other notices issued under Section 148A(b) of the Act – one dated 31.03.2024 and, the other dated 18.04.2024. 2. Both the said notices contained different information which according to the Assessing Officer (AO) are suggestive of the petitioner’s income escaped assessment. 3. The notice dated 31.03.2024 (hereafter the first notice) recorded information to the effect that an agreement to sell of immovable properties was found during the search proceedings and image of the said document was reproduced in the said notice. According to the AO the transaction of sale and purchase of the immovable pr