2018 (2) TMI 1597

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..... Kumar, for the Respondent.   ORDER : 1. Heard.   2. Rule. 3. This Petition challenges notice dated 31 March 2017 issued by the Assessing Officer under Section 148 of the Income Tax Act, 1961 ("the Act" for short) seeking to reopen the assessment for the assessment year 2010-11. The Regular assessment proceedings for the subject assessment year was passed on 26 February 2014 under S .....

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..... tockist was in the nature of commission on which there was a failure to deduct the tax at source of Rs. 11.19 Crores. It is on the basis of the above information that the reasons in support state that the amount of Rs. 111.95 Crores was the commission given to its stockist. The Reasons in support only state that the amount of Rs. 111.95 Crores shown as discount is in fact commission and that he ha .....

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..... isposing of the objections. Thus, rendering the entire process of taking a second look, particularly on facts, before proceeding to reassess, futile. Even before us the Revenue has not been able to show that in its accounts the Petitioner had claimed any amount of expenditure as discount on sales of its products to stockists. All the above is indicative of the absence of application of mind by th .....

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