TMI Blog2014 (7) TMI 690X X X X Extracts X X X X X X X X Extracts X X X X ..... ceedings are initiated for the subsequent AY 2006-07 and 2007-08 are set aside by the Court and the facts are similar to that of the AY 2005-06, the reassessment proceedings for the AY 2006- 07 and 2007-08 deserve to be quashed and set aside – Decided in favour of Assessee. - Special Civil Application No. 5233 of 2014, Special Civil Application No. 5234 of 2014 - - - Dated:- 8-7-2014 - M. R. Shah And K. J. Thaker,JJ. For the Petitioner : Mr. Chirag B. Patel For the Respondent : Mrs. K. M. Parikh ORDER (Per : Honourable Mr. Justice M. R. Shah) 1. RULE. Shri K.M. Parikh, learned advocate waives service of notice of rule on behalf of the respondent in both the petitions. 2. In the facts and circumstances of the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness loss of the Assessment Year 2005-06 to the extent of ₹ 1,22,76,099/-. 4.3. At the end of the relevant Assessment Years, the Assessing Officer initiated the reassessment proceedings for the Assessment Years 2006-07 and 2007-08 by issuing notices. The petitioner was supplied the reasons for issuing such notices, which so far as for Assessment Year 2006-07 is concerned reads as under; In this case, the assessee has filed its return of income showing total income at Rs. NIL on 30/12/2006. Order under Section 143(3) of the Income Tax Act, 1961 was passed on 02/12/2008 on total income at Rs.NIL after set off of brought forward business loss of Assessment Year 2005-06 to the extent of ₹ 1,33,63,272/-. It was noticed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Act, 1961. 4.4. With respect to the Assessment Year 2007-08, similar reasons for reopening was furnished except the change in the Assessment Year and the amount of set off of brought forward business loan and, therefore, to avoid any repetition, the same is not reproduced. 4.5. Thereafter the petitioner raised objections against the reassessment proceedings by submitting that on the very ground for the Assessment Year 2005-06 the reassessment proceedings were initiated after a period of four years from the end of the relevant assessment year and by judgment and order dated 07/05/2013 passed in Special Civil Application No.1043/2013 the Division Bench of this Court quashed and set aside the reassessment proceedings. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tated hereinafter and in view of the decision of the Division Bench of this Court in Special Civil Application No.1043/2013 in the case of the very petitioner but with respect to Assessment Year 2005-06, this Court proposes to allow the present Special Civil Application and quash and set aside the reassessment proceedings, we are not further entering into the merits of the case. 7. Shri K.M. Parikh, learned advocate appearing on behalf of the assessee has tried to oppose the present Special Civil Applications. However, is not disputing that with respect to the Assessment Year 2005-06 on the very ground on which the reassessment proceedings are initiated for the Assessment Years under consideration i.e. 2006- 07 and 2007-08, for the Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... original return itself. 9. In view of the above, when the reassessment proceedings for the Assessment Year 2005-06 with respect to the very assessee, which were sought to be initiated on the very ground on which the reassessment proceedings are initiated for the subsequent Assessment Year 2006-07 and 2007-08 are set aside by this Court and the facts are similar to that of the Assessment Year 2005-06, the impugned reassessment proceedings for the Assessment Year 2006- 07 and 2007-08 deserve to be quashed and set aside. In view of the above and for the reasons stated hereinabove, both the petitions succeed. The impugned reassessment proceedings for the Assessment Year 2006-07 and the subsequent reassessment orders passed on the basis of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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