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2012 (3) TMI 290 - HC - Income TaxWrit petition for quashing of notice under Section 148 of the Income Tax Act - the petitioner had filed its return of income with provisional tax audit report - the petitioner filed audited accounts with the tax audit report in lieu of notice under Section 139(9) - return filed by the assessee was not taken up for scrutiny and no notice under Section 143(2) was issued - the impugned notice under Section 148 was issued - petitioner informed that the return filed may be treated as return filed in response to notice - the petitioner asked for furnishing of “reasons to believe” recorded in writing before issue of notice under Section 148 of the Act - contention of the petitioner is that there was delay and failure to supply the exact reasons recorded by the Assessing Officer - reasons recorded by the AO for reopening was that the assessee is not offering its income earned on infrastructure utilization Fund (IUF) and interest earned thereon in its income chargeable to tax - The contention of the petitioner is that the amount deposited in the aforesaid fund is not income of the assessee and reasons to believe are a mere reason to suspect or surmise and do not disclose or state that there has been under assessment of income - Held that :- there were no original assessment proceedings and no notice under section 143(2) was issued. The time for issue notice under Section 143(2) had lapsed. The AO, therefore, could have only examined the question/aspect after issue of notice under Sections 147/148 of the Act. Whether or not notice can be issued in such cases is no longer res integra [Assistant Commissioner of Income Tax v. Rajesh Jhaveri Stock Brokers Private Limited, (2008) 14 SCC 208 ] - writ petition is dismissed
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