TMI Blog2016 (12) TMI 1283X X X X Extracts X X X X X X X X Extracts X X X X ..... of assessee - W. P. (C) 2685/2016, CM APPL. 11355/2016 - - - Dated:- 7-12-2016 - S. Ravindra Bhat And Najmi Waziri, JJ. For the Petitioner : Mr. Rupesh Jain, Adv For the Respondent : Mr. P. Roychoudhuri, Senior Standing Counsel ORDER S. Ravindra Bhat, J (Oral) 1. The assessee/petitioner, in the present proceedings under Articles 226/227 of the Constitution, impugns a notice issued under Section 148 of the Income Tax Act, 1961 [ the Act , for short] proposing re-assessment for Assessment Year (AY) 2008-09 which was concluded through scrutiny assessment under Section 143(3) of the Act on 22.12.2010. The re-assessment notice refers to the proceedings for a subsequent year, i.e., AY 2012-13 as well as a decision of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee failed to disclose fully and truly all materials facts necessary for its assessment for the A.Y. 2008-09 as provided in 1st proviso to section 147 of the I.T. Act, In view of the above facts I have reason to believe that income to the tune of ₹ 10,15,72,169/- of the assessee company for A.Y. 2008-09 has escaped assessment. Therefore, in accordance with sub section (1) of Sec.151 of I.T. Act notice u/s 148 is being issued after getting necessary approval from Pr.CIT, Delhi-09. 2. It is urged that the re-assessment notice is unsupported in law given the fact that at all relevant times all materials were in fact furnished and, there was no concealment and furthermore that on the very same issue, i.e., nature of operation a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled note on the activities carried out by the assessee company during the year under consideration. (2) File separate balance sheets, profit loss accounts alongwith all annexures in respect of agricultural income claimed exempt u/s 10(1) and business income. (3) Justify the criteria of offering income under different heads i.e. income from business and agricultural income while the activity on which income has been earned is same. (4) xxx ... xxx ... xxx (5) Give complete details of agricultural income i.e. details of agricultural land, evidence of possession of agricultural land, details of crops produced and sold and other expenses incurred. (6) xxx ... xxx ... xxx (7) Justification with evidence in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
