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2016 (6) TMI 746 - HC - Income TaxReopening of assessment - taxability of income of the sugarcane - Held that:- A Division Bench of this Court in the case of Shri Chalthan Vibhag Khand Udylog Mandli Ltd. vs. Deputy Commissioner of Income-Tax, reported in [2015 (7) TMI 297 - GUJARAT HIGH COURT ], had quashed the notice for re-opening which was based on identical reasons, it was held that the difference between the price to be paid to cane growers and the purchase price declared by the Government under sugar Sugar Control Order cannot be said to be by way of distribution of profits. It was held that the Assessing Officer had not carried out any inquiry before coming to a contrary conclusion and that he should not have a reasonable belief for forming the opinion that the income chargeable to tax had escaped the assessment. Also see Shri Narmada Khand Udhyog Sahakari Mandli Ltd. vs. Income Tax Officer [2016 (2) TMI 385 - GUJARAT HIGH COURT ] - Decided in favour of assessee
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