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2019 (4) TMI 1826 - HC - Income TaxReopening of assessment u/s 147 - exercise of power to record reasons u/s 151 (1) read with Sections 147 & 148 (2) of the Act for issuance of re-assessment of notice u/s 148 (1) - survey under Section 133A - HELD THAT:- We are fortified by the decision of this Court in Indo Asahi Glass Co. Ltd. v. ITO [2001 (9) TMI 5 - SUPREME COURT] wherein the assessee had approached this Court against the judgment and order of the High Court which had dismissed the Writ Petition filed by the assessee wherein challenge was made to the show cause notice issued by the Assessing Authority on the ground that alternative remedy was available to the assessee. In the present case, the assessee has invoked the writ jurisdiction of the High Court at the first instance without first exhausting the alternate remedies provided under the Act. In our considered opinion, at the said stage of proceedings, the High Court ought not have entertained the Writ Petition and instead should have directed the assessee to file reply to the said notices and upon receipt of a decision from the Assessing Authority, if for any reason it is aggrieved by the said decision, to question the same before the forum provided under the Act. In view of the above discussion, the Principal, CIT, having recorded reasons that certain information found during survey under Section 133A of the Act was not available during the scrutiny assessment, the sanction appears to be in accordance with law. Moreover, the assessment proceeding having already been complete, the petitioners have remedy of preferring an appeal, therefore, both the writ petitions deserve to be and are hereby dismissed.
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