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2018 (12) TMI 1775 - HC - Income TaxReopening of assessment u/s 147 - case reopened on the basis of facts disclosed by the petitioner in wealth tax return - HELD THAT:- As pointed out that the petitioner has drawn the attention of the Assessing Officer to all these facts in the objections raised against the reopening to the effect that the property being stock-in-trade is reflected in the books of accounts of the petitioner's proprietary concern “C.R. Patil Sankul” in respect of which the petitioner is maintaining separate books of accounts. As pointed out that in this case the impugned notice is issued on 31.3.2018; vide letter dated 9.4.2018 the petitioner had called upon the respondent Assessing Officer to furnish a copy of the reasons recorded for reopening the assessment, however, such reasons came to be furnished only on 14.9.2018, and hence, there was some delay in raising the objections. Assessing Officer is, therefore, not disposing of the objections on the ground of delay and is proceeding further with the assessment. Having regard to the submissions advanced by the learned advocate for the petitioner, Issue Notice returnable on 11th February, 2019. By way of ad-interim relief, the respondent is permitted to proceed further pursuant to the impugned notice; he, however, shall not pass the final order without the permission of this court. Direct service is permitted.
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