The Kerala High Court dismissed the writ petition as there was clear examination of undisclosed income to returned income in the assessment order.
The present writ petition has been filed impugning order passed by the 2nd respondent. The 2nd respondent has given a conditional stay order after considering the facts and circumstances of the case and taking into account the online submissions advanced on behalf of the petitioner.
The petitioner has been directed to pay of 20% of the total tax demand raised vide the assessment orders for the assessment years 2014-2015, 2015-2016, 2016-2017, 2017-2018 and 2019-2020. Not only the conditional stay on payment of 20% has been granted but the petitioner has also been given facility of payment of 20% in seven equal instalments.
The said 20% amount is directed to be paid on or before 25.03.2024. The first instalment has been directed to be paid on or before 25.09.2023. The petitioner instead of complying the said conditional stay order has approached the court, impugning the very same conditional stay order.
The counsel for the petitioner has submitted that the assessment orders after survey under Section 133A of the Income Tax Act had been finalized merely on the basis of the statements of the Director and Managing Director who had retracted later on.
A Single Bench of Justice Dinesh Kumar Singh observed that “The assessment order would disclose that not only the statements of the Director and Managing Director were taken into consideration but the other incriminating material including the excel sheets and digital data maintained in the computers and laptops had also been examined before adding the undisclosed income to the returned income of the petitioner. Therefore, I do not find much substance in the present writ petition that the merit of the assessment orders have not been considered while passing the impugned order granting conditional stay.”
“In that view of the matter, the present writ petition is dismissed. The petitioner was granted time to pay the first instalment on or before 25.09.2023, the said time is extended to 30.12.2023 and the last and final instalment has to be paid on or before 30.06.2024” the Court concluded.
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