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2015 (5) TMI 934 - BOMBAY HIGH COURT

2015 (5) TMI 934 - BOMBAY HIGH COURT - TMI - Reopening of assessment - deductions under section 80IA(4) of the Income Tax Act, 1961 on the rail system - Held that:- There is no order as yet passed by the Assessing Officer and in pursuance of the notice to reassess the income allegedly escaping assessment and chargeable to tax. The Assessing Officer has yet to make up his mind. He has only sought a clarification and based, as apprehended by the Petitioner, on some general circulars. In the event .....

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part of this order and set out in the Writ Petition as resistance and objections of the Petitioner to reopening or revisiting the deduction under section 80IA(4) of the Income Tax Act, 1961. All pleas including those raised in this Writ Petition shall be considered by the Assessing Officer as if they have been raised in a personal hearing - Writ Petition (L) No. 919 of 2015 - Dated:- 30-3-2015 - S C Dharmadhikari And A K Menon, JJ. For the Appellants : Mr J D Mistri, Sr. Adv. & Mr Nitiesh J .....

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ance of which the concerned officer in the department has initiated further steps. Equally, the Assessee/Petitioner before us has also responded and in answer to several questions and queries, furnished the details. The reassessment proceedings are yet to conclude. 3. However, Mr. Mistri would submit that the details that are sought from the Petitioners and deliberately at the last minute on 26th March, 2015 are pertaining to deductions under section 80IA(4) of the Income Tax Act, 1961 on the ra .....

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ficer is likely to revisit the same deduction and pass an order. 4. Our attention is invited to the third proviso to section 147 of the Income Tax Act, 1961 (proviso which has been brought in w.e.f. 1st April, 1008 by Finance Act, 2008). Our attention was also invited to the order passed by the Assessing Officer in the substantive/regular proceeding. It is therefore submitted by Mr. Mistri that within a short time it will not be possible for the Petitioner to resist completely this proposed step .....

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nding and conclusion which may possibly be reached on the issue as emerging from the order note sheet. 5. Mr. Suresh Kumar appearing for the Respondents on the other hand would submit that the Writ Petition is wholly premature. Today, the Petitioner cannot presume that an adverse order will be passed. Further, there are remedies in the form of Appeals and which can be availed of by the Petitioner in the event any adverse finding is recorded or the deduction is revisited as apprehended. In such p .....

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