GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2016 (3) TMI 179 - BOMBAY HIGH COURT

2016 (3) TMI 179 - BOMBAY HIGH COURT - [2016] 382 ITR 333 - Assessment u/s 147 - Time limit for completion of assessments and reassessments u/s 153 - Held that:- In the present facts, we find that the draft Assessment order was passed on 30th March, 2015 without having disposed of the Petitioner's objections to the reasons recorded in support of the impugned notice. The reasons were supplied to the Petitioner only on 19th March, 2015 and the Petitioner had filed the objections to the same on 25t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t aside the draft Assessment order dated 30th March, 2015. We are not dealing the validity of the reasons in support of the impugned notice in the present facts as the time limit to pass the Assessment order as provided under 4th Proviso to sub-section(2) of Section 153 of the Act has already expired when the petition was filed. - WRIT PETITION NO. 2502 OF 2015 - Dated:- 27-1-2016 - M.S.SANKLECHA AND B.P.COLABAWALLA, JJ. For The Petitioner : Mr. Nishant Thakkar a/w Ms. Megha Sharma i/b PDS Legal .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

15 consequent to the reopening notice dated 6th February 2013 for the Assessment year 2007-2008. 3. For the Assessment year 2007-2008, the Petitioner had filed a return of income declaring total income of ₹ 12.77 Crores. The same was accepted by issuing intimation under Section 143(1) of the Act. 4. Thereafter, on 6th February, 2013 the impugned notice was issued seeking to reopen the Assessment for Assessment Year 2007-2008. On 15th March, 2013 itself, the Petitioner filed its revised ret .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

objections to the reasons recorded as communicated on 19th March 2015 for issuing the impugned notice dated 6th February, 2013. The Assessing Officer without disposing of the Petitioner's objections passed a draft Assessment order dated 30th March, 2015. 6. This passing of the draft Assessment order on 30th March, 2015 was in the face of the decision of the Supreme Court in GKN Driveshafts (India)Ltd v/s Income Tax Officer and Others reported in 259 ITR 19(SC), wherein it has been laid down .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

cts the objection that he can proceed with the Assessment proceedings of the reopened Assessments. 7. In the present case, as the issue involves the provisions with regard to transfer pricing cases, the period of limitation to dispose of an Assessment consequent to reopening notice as provided in 4th proviso to sub-section(2) of Section 153 of the Act is two years from the end of the financial year in which the reopening notice was served. In this case, the impugned reopening notice was issued o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

before the Transfer Pricing Officer (TPO) and it was only after the TPO had passed his order on transfer pricing were the reasons for reopening provided to the Petitioner. We are unable to understand how the TPO could at all exercise jurisdiction and enter upon enquiry on the reopening notice before the same is upheld by an order of the Assessing Officer passed on objections. Besides the recording of reasons for issuing the reopening notice is to be on the basis of the Assessing Officer's r .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

are unable to understand how the assessing officer could have any reason to believe that income chargeable to tax has escaped assessment. Be that as it may, this petition was adjourned from time to time to enable the Revenue to file the necessary affidavits explaining their contention. 9. In fact, on 23rd December 2015 the Revenue again sought time. At that stage, we indicated that in view of the gross facts of this case, the Principal Commissioner of Income Tax would take serious note of the a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

objections filed by the Petitioner. We could have on that date or even earlier passed an order setting aside the draft assessment order dated 30th March 2015 as it was passed without disposing of the objections. Thus, clearly without jurisdiction. However, we were of the view that although this appears to be a gross case of harassing an Assessee, the Principal Commissioner would take note and adopt remedial action / proceedings. 10. Today, when the matter reached hearing, the learned Additional .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version