TaxTMI 
TaxTMI 
TaxTMI 
2011 (4) TMI 412
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....It relates to the assessment year 1989-1990. 2. A brief statement of facts essential for the disposal of the writ petition may be indicated. The petitioner is a partnership firm and was at the relevant point of time engaged, inter alia, in the business of manufacture of tiles, other cement products, pipes, etc. It had taken a portion of a premises on rent situate on Exhibition Road in the township of Patna, from one Smt. Jayanti Roy, widow of Col. Niranjan Roy, and other ex-owners. In fact, it was a sprawling premises and was taken on rent by the present petitioner and three other partnership firms, namely, Eastern Asbestos Products (Petitioner of the analogous CWJC No. 7515 of 1997), M/s Ashirvad Enterprises, and M/s Poddar Industrial Cor....
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.... the petitioner preferred appeal before the learned Tribunal which was allowed by order dated 9-8-1994 (Annexure-5). In other words, the aforesaid declaration made by the petitioner with respect to the income received on account of relinquishment of tenancy rights was accepted by all the three authorities. 2.2 The petitioner received notice under the provisions of section 148 of the Act, calling upon the petitioner to show cause as to why the assessment proceedings be not re-opened, particularly with respect to the income received from relinquishment of tenancy rights. The petitioner challenged the same by preferring the aforesaid CWJC No. 3003 of 1999. The same was admitted by a Division Bench of this Court by order dated 15-3-2000. In vi....
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....he legal position has perhaps changed as a result of which the income in question may not be taxed with effect from the date of insertion. 4. Learned Senior Standing Counsel for the Department submits that the Supreme Court has by its order dated 26-10-1998, passed in Civil Appeal No. 524 of 1999 (Eastern Asbestos Products v. The Commissioner of Income-tax, Patna & Ors.), already framed the following issues for the determination of this Court:- "(i) Whether the impugned notice satisfies the condition precedent or not. (ii) If the condition precedent is satisfied, what appropriate order to be passed; and (iii) If the condition precedent is not satisfied, what appropriate order to be passed regarding notice u....
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....a facie illegal and without jurisdiction inasmuch as the particulars of receipt on account of relinquishment of tenancy rights were duly disclosed in the original return of income? (v) Whether the order of re-assessment is prima facie illegal and without jurisdiction inasmush as there is no omission or failure on the part of the assessee to disclose material facts relevant to an assessment? (vi) Whether the re-assessment under the provisions of section 148 of the Act is illegal and without jurisdiction inasmuch as the findings therein are perverse and contrary to the materials on record? (vii) Whether the order of re-assessment is illegal and without jurisdiction as the same is nothing but a mere change of opinion in re....
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....he provisions of section 147 read with section 148 of the Act are not satisfied?" 6. We have perused the materials on record and considered the submissions of the learned counsel for the parties. It appears from a perusal of the agreement dated 15-10-1988 that the petitioner, M/s. Eastern Asbestos Products (the petitioner in the analogous CWJC No. 7515 of 1997), M/s. Ashirvad Enterprises, and M/s. Poddar Industrial Corporation, were four partnership firms engaged in same or similar business, and were occupying different portions of the same premises taken on rent from Smt. Jayanti Roy and other co-owners. The ex-owners alienated right, title and interest of the premises in question in favour of the Samiti by registered deed of absolute sal....