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2015 (7) TMI 1030 - BOMBAY HIGH COURTReopening of assessment - Under invoicing of the exports and income arising out of mining is an illegal incomeHeld that:- The objection filed by the petitioner to the reasons recorded in support of the impugned notice, very categorically states that they do not hold any mining leases as they are only in the business of buying ores, processing it and exporting the processed iron ore. Thus, the second ground/ reason recorded in support of the notice viz. illegal mining does not apply. However, order dated 20/02/2015, while disposing of the objections, does not deal with the above objection. On the contrary, the order dated 20/02/2015 disposes of an imaginary objection, not taken by the petitioner, by a reasoned order. The least that is expected of Assessing officer while disposing of the objections filed by the Assessee is some application of mind to the objections raised by the Assessee and in that context, take a relook at the reasons recorded in support of the reopening notice. On such a fundamental lapse on the part of the Assessing Officer in disposing of the objections was pointed out to us, we expected the State-Revenue would withdraw the order and crave liberty to pass a fresh order dealing with the objections of the petitioner. Therefore, we decided to set aside the order of the Assessing Officer disposing of the objections to the impugned notice - Decided in favour of assessee for statistical purposes.
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