TMI Blog2016 (6) TMI 900X X X X Extracts X X X X X X X X Extracts X X X X ..... ld not alter tax liability. Be that as it may. On the first ground itself, we are convinced that reassessment is not permissible. - Decided in favour of assessee - SPECIAL CIVIL APPLICATION NO. 2793 of 2016 - - - Dated:- 14-6-2016 - MR. AKIL KURESHI AND MR. A.J. SHASTRI, JJ. FOR THE PETITIONER : MR TUSHAR P HEMANI and MS VAIBHAVI K PARIKH, ADVOCATE FOR THE RESPONDENT : MR SUDHIR M MEHTA, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) The petitioner has challenged the notice dated 27.2.2015 issued by the respondent Assessing Officer under which he seeks to re-open the assessment order for the assessment year 20-11-2012. For issuing such notice, the Assessing Officer has recorded reasons which re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch assessment, impugned notice has been issued within a period of four years from the end of relevant assessment year. 3. The learned advocate attacked notice on two grounds. Firstly, that the issue of value of opening and closing stock of the petitioner was examined by the Assessing Officer in the original scrutiny assessment and secondly, that in any case, the issue was revenue neutral. Whether opening and closing stocks are followed inclusive of CENVAT and VAT or exclusive thereof would not change the assessee's tax liability. 4. From the reasons recorded, we may notice that according to Assessing Officer, the assessee ought to have included CENVAT and VAT amounts lying in balance in the accounts of the assessee for the purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of invoices exceeding ₹ 1 lacs each of Stores and Spares including account copy as Annexure #2. 5. We are enclosing herewith breakup of Creditors for Expenses as Annexure #3. 6. Clarification on decrease of overall average yield of the current year in comparison with the preceding Asst. year 2009-10 is attached herewith as Annexure #4. 7. Cenvat credit of Excise duty has been shown in Balance Sheet at Schedule #9 of Loans and Advances as Recoverable from Revenue Authorities . We are attaching herewith account copies of all Cenvat Accounts as Annexure #5. 6. Thus, during assessing process itself, the assessee had pointed out the method of accounting which was exclusive of excise duty and other taxes. The Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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