TMI Blog2014 (12) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... dia – as held in Commissioner of Income Tax & others Versus Chhabil Dass Agarwal [2013 (8) TMI 458 - SUPREME COURT] - where in issuing the notice the Authority has acted contrary to the statutory provision or in defiance of the judicial procedure, the Court would interdict such a proceeding notwithstanding an alternate remedy - the impugned reopening notices have been issued in breach of the first Proviso to Section 147 of the Act which inter alia provides that in the absence of a failure to make and disclose true, full and complete disclosure, the AO has no jurisdiction to issue notice for reopening after the end of four years from the end of the relevant AY - there has been no failure to disclose truly and fully all material information a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 1.81 crores was not disturbed by the Assessing Officer. It is the petitioners contention that all facts were disclosed at the time of regular assessment under Section 143(3) of the Act leading to the order dated 10 December 2010 for the A.Y. 2007-08 and for the subsequent year i.e. A.Y. 200809 it would be considered as the written down value of the block of assets in case the Revenue is correct in its contentions for A.Y. 200708. 5] The petitioner had purchased the polymer business of M/s. Garda Chemicals Limited in its entirety including its plant, machinery, equipments, implements, tools etc. the same was subjected to valuation of a Valuation Expert. The plants and machinery subjected to valuation included elbows, nuts, bolts, brac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utable. However, the entire purpose of the Assessing Officer dealing with the objections and passing a reasoned order thereon is for the Assessing Officer to give some reasons to meet the objections of the Assessee and not merely dispose of objections by being silent and then proceed with reassessment proceedings. Similarly, the Revenue has also placed reliance on the decision of the Apex Court in Commissioner of Income Tax Ors. vs. Chhabil Dass Agarwal reported in (2014) 1 SCC 603 and submitted that the petitioners have an alternate remedy under the Act and this Court should not interfere. We are conscious of the fact that where an efficacious alternate remedy is available, we would not normally as a matter of self restraint exercise our ..... X X X X Extracts X X X X X X X X Extracts X X X X
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