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TMI Blog2002 (6) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... e expiry of four years from the end of the relevant assessment year in each case, are time barred as in the present case for each of the years there was assessment under sub-section (3) of section 143 of the Income-tax Act. It is contended that the impugned notices were issued for reopening the assessment in view of the explanation of the law in the case of CIT v. N.C. Budharaja and Co. [1993] 204 ITR 412 (SC), holding that the civil contractor engaged in various activities such as construction of dams, canals, bridges, buildings, roads and other similar constructions and also laying of pressure piling, digging of borewells, etc., does not manufacture or produce an article or thing and, therefore, no investment allowance is allowable in suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N.C. Budharaja and Co.'s case [1993] 204 ITR 412 (SC), two similar writ petitions have been decided one in the case of Geo Miller and Co. Ltd. [2002] 254 ITR 620 (Cal) and another in the case of Simplex Concrete Piles (India) Pvt. Ltd. v. Deputy CIT decided on January 28, 2002, in the unreported judgment (since reported in [2002] 255 ITR 49 (Cal)) and, therefore, on the same reasons issuance of notice in the present case also should be permitted. In respect of the scope of section 147 law was referred to as decided in the case of Sri Krishna Pvt. Ltd. v. ITO [1996] 221 ITR 538 (SC). Considering the aforesaid contentions, I find that for issuance of notice under section 148 requirements are available from section 147 of the Act and the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso. Explanation 2.-For the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely:- (a) where no return of income has been furnished by the assessee although his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax; (b) where a return of income has been furnished by the assessee but no assessment has been made and it is noticed by the Assessing Officer that the assessee has understated the income or has claimed excessive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sequent to the assessment. There is no material that the second requirement of failure on the part of the petitioner to disclose fully and truly any material fact, has even been alleged. Learned counsel for the respondents relied on the law as decided by the apex court in the case of Raymond Woollen Mills Ltd. v. ITO [1999] 236 ITR 34 for showing that this court, at this stage of issuance of notice, is not to assess the correctness or sufficiency of materials. But this contention cannot be accepted as at this stage not the correctness or sufficiency of the materials but the very existence of the allegation is being considered and that is within the power of the court when the notice is challenged. In respect of the case of Geo Miller and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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