TaxTMI 
TaxTMI 
2010 (7) TMI 521
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....roceedings. (B) Pending admission, hearing and disposal of this petition, ad interim relief be granted and the respondent be ordered to restrain from enforcing compliance with the impugned notice dated March 29, 2010, at annexure D and/or taking any other steps in this regard including the ex parte order or implementation of preliminary order dated May 4, 2010 at annexure H. (C) Pending admission, hearing and disposal of this petition, stay the implementation/operation of the notice and orders to restrain the respondent from taking any further proceedings pursuant to the impugned notice dated March 29, 2010 at annexure D including stay of operation of the preliminary order dated May 4, 2010 at annexure H. (D) Award t....
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....ection 148. Upon being furnished with a copy of the reasons recorded for reopening the assessment, the petitioner submitted objections to the reassessment proceedings under section 147 of the Act. Respondent No. 1 vide order dated May 4, 2010, rejected the objections raised by the assessee to the reassessment proceedings for the assessment year 2003-04. The facts of Special Civil Application No. 5847 of 2010 are also similar, wherein notice under section 148 for reopening assessment under section 147 has been issued in relation to the assessment year 2004-05. Being aggrieved, the petitioner has moved the present petitions, seeking the reliefs noted here-in above. 5. Mr. R. K. Patel, learned advocate for the petitioner has vehemently....
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....147 are clearly attracted. 7. As can be seen from the averments made in the petition, more particularly paragraphs 4, 6, 7 and 10 thereof it has been specifically contended therein that the notices under section 147 of the Act are invalid in view of the fact that the same have been issued beyond the period of four years from the end of the relevant assessment years. However, though affidavit-in-reply has been filed on behalf of the respondents, the said contention has not been dealt with and remains uncontroverted. 8. In the facts of the present case, the relevant assessment years are 2003-04 and 2004-05. The notice under section 148 of the Act relating to the assessment year 2003-04 has been issued on March 29, 2010, wherea....
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....n that there is no failure on the part of the assessee in so far as the first condition is concerned. In so far as the second condition, viz., failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment is concerned, on a plain reading of the reasons recorded, it is apparent that the same are totally silent as regards any failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the relevant assessment years. From the reasons recorded it is apparent the assessments are sought to be reopened on the ground that as per the Explanation given below sub-section (13) of section 80-IA of the Act, which has been substituted by the Finance ....