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M/s. Ingram Micro (India) Exports Pte Ltd. Versus The Deputy Commissioner of Income Tax (International Taxation) -2 (2) (1) & Others

2017 (1) TMI 854 - BOMBAY HIGH COURT

Reopening of assessment - Held that:- This Court in Hindustan Lever Ltd vs. R.B. Wadkar, Assistant Commissioner of Income Tax and Others [2004 (2) TMI 41 - BOMBAY High Court] has held that re-opening notice has to be justified on the basis of the reasons recorded at the time of issuing the impugned notice. The impugned notice must stand or fail on the reasons recorded. These reasons recorded cannot be supplemented by further reasons or by filing an affidavit and/or making oral submission. The re .....

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he impugned notice dated 31st March, 2016. - Writ Petition No. 2920 of 2016 - Dated:- 4-1-2017 - M. S. Sanklecha And A. K. Menon , JJ. Mr. J.D. Mistri, Senior Advocate with Mr.Madhur Agrawal i/b Atul K. Jasani for the petitioner Mr. Prakash C. Chhotaray for the respondent ORDER P. C. 1. Heard. 2. Rule. Respondents waive service. 3. This petition challenges a notice dated 31st March, 2016 issued under Section 148 of the Income Tax Act, 1961 (the 'Act') seeking to reopen assessment for the .....

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asis he forms a prima facie view that part of the transaction relates to Assessment Year 2009-10 to conclude that he has reason to believe that income amounting to ₹ 12.63 crores has escaped assessment. 5. The petitioner objects to reasons recorded in support of impugned notice, interalia pointing out that the reasons as recorded do not indicate any reasonable belief to form a prima facie view that the income chargeable to tax has escaped assessment. This appears so as the Assessing Office .....

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n amounting to ₹ 12.63 crores is income chargeable to tax and has escaped assessment. The reasons as recorded prima facie indicate non application of mind to materials before the Assessing Officer. The order disposing of the objections do not deal with the above issues. 6. It may be pointed out that in the present facts, the petitioner had not filed its return of income. Mr.Chhotaray, learned counsel appearing for the Respondent - Revenue placed reliance upon Explanation 2(a) to Section 14 .....

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