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2016 (7) TMI 932 - HC - Income TaxReopening of assessment - International transaction - Held that:- Prima facie the sanction for re-opening the assessment of the Commissioner of Income Tax was also in respect of International transaction, which was a subject matter of assessment completed much prior to 1st day of July, 2012. Therefore, the impugned notice is hit by Sub-Section (2B) of Section 92CA of the Act. As this objection goes to the root of matter, it would be appropriate that this objection of the petitioner be considered by the Assessing Officer and disposed of expeditiously. It is true that normally we would not let an assessee challenge a reopening notice before us on a ground not taken in the objections made to the Assessing Officer. However, on the face of it, it appears that the impugned notice is without jurisdiction. However, rather then admitting the petition and staying the notice in the peculiar facts, the Assessing Officer should have a chance to deal with it. In the above view at this stage, we are not disturbing the impugned notice or the order disposing of the objection and only directing the Assessing Officer to consider the petitioner's objections in respect of Section 92CA (2C) of the Act. It is made clear that in case the petitioner files its objections/representation with regard to Section 92CA (2C) of the Act within one week from today, the Assessing Officer will dispose of the same within a period of four weeks from the date the petitioner file its objections/representation only on the issue of Section 92CA (2C) of the Act. It is made clear that with regard to the other objections contended by the petitioner we are not inclined to entertain this petition. We direct a stay of the impugned notice for further period of ten weeks from today. This would enable the petitioner to challenge the order disposing of the objection in respect of Section 92CA of the Act raised by the petitioner
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