TMI Blog2004 (10) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... itiating proceedings under section 148 against the petitioner - - - - - Dated:- 1-10-2004 - Judge(s) : G. S. SINGHVI., AJAY KUMAR MITTAL. JUDGMENT This order shall dispose of C.W.P. Nos. 15512 of 2004 and 15516 of 2004, as they involve similar facts relating to the assessment years 2002-2003 and 2003-2004. For the sake of reference, the facts have been taken out from C.W.P. No. 15512 of 2004. In this petition under article 226/227 of the Constitution of India, the petitioner has sought to challenge the proceedings initiated under section 148 of the Income-tax Act, 1961 (for short, "the Act"), and has sought quashing of annexure P. 2 and the order passed on objections (annexure P. 1). The petitioner had filed the return for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law as held in Wyeth (India) Pvt. Ltd. v. Bhatt (N.D.), IAC of I.T. [1982] 137 ITR 20 (Bom). The last submission of learned counsel for the petitioner was that in view of CIT v. D.C. Basappa [2001] 251 ITR 673 (Karn), the Assessing Officer cannot take recourse to the proceedings under section 148 of the Act, for changing the status of an assessee. We have considered the submissions of learned counsel, but have not felt impressed. The Assessing Officer in the reasons recorded and also while rejecting the objections of the petitioner, noticed as under: "It was clearly mentioned that section 4 of the Indian Partnership Act, 1932 defined partnership as 'relationship between the persons who have agreed to share the profits of business carri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... find any error in the approach of the Assessing Officer in initiating proceedings under section 148 of the Act against the petitioner and accordingly issuing notice annexure P-2 and passing order annexure P-1 on the objections filed by the petitioner and the same cannot be said to be without jurisdiction. Now adverting to the next limb of the arguments of learned counsel for the petitioner, in Wyeth (India) Pvt. Ltd.'s case [1982] 137 ITR 20 (Bom), the income received by the assessee towards the rent or the compensation was treated as an income from "other sources" by the Assessing Officer. The assessee had produced the entire relevant material to the Assessing Officer and the assessment was completed after perusing the material. It was o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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