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Amore Jewels Pvt. Ltd. Versus The Principal Commissioner of Income Tax-12, Mumbai And Others

2016 (7) TMI 932 - BOMBAY HIGH COURT

Reopening 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 cons .....

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e 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/represent .....

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Menon, JJ. Mr. Satish Agarwal for the petitioner Mr. Arvind Pinto for the respondents ORDER P. C. 1. At the request of the counsel, this petition is being disposed of finally at the stage of admission. 2. This petition under Article 226 of the Constitution of India challenges a notice dated 31st March, 2015 issued by the Assessing Officer under Section 148 of the Income Tax Act, 1961 (the 'Act'). The impugned notice seeks to re-open the Assessment for Assessment year 2008-09. 3. We had .....

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davit states that it was a genuine mistake and he tenders an unconditional apology for the same. We accept the same in the present facts. However, the officers of Revenue must be careful and ensure that the orders of this Court are followed in letter and spirit. 4. The petitioner has raised various contentions challenging the jurisdiction of the Assessing Officer, who issued the impugned notice including the date when impugned notice was issued and also with regard to sanction of the Commissione .....

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impugned notice was issued on 31st March, 2016. The other objection urged is that the sanction from the Commissioner of Income Tax was obtained by DCIT-12(1)(2) and not by the Assessing Officer i.e. DCIT-12(1)(1). Thus it is submitted that the impugned notice is not issued on satisfaction of the Assessing Officer but at the instance of some other officer. We find that reasons in support of the impugned notice is signed by the Assessing Officer DCIT-12(1(1). The affidavit in reply points out tha .....

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lip;. …. …. (2C) Nothing contained in sub-section (2B) shall empower the Assessing Officer either to assess or reassess under section 147 or pass an order enhancing the liability of the assessee under Section 154, for any assessment year, proceedings for which have been completed before the 1st day of July, 2012. 6. In this case the petitioner points out that for the assessment year 2008-09 the regular Assessment under Section 143(3) of the Act was completed on 18th October, 2010. .....

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x 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. However, Mr.Pinto submits that this issue has not been canvassed by the assessee before the Assessing Officer while filing its objections. Therefore, they cannot raise this now but in the peculiar facts he does not oppose the issue of Section 92CA (2C) of the Act being agit .....

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