2013 (12) TMI 1307

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.... of the competent authority by which the matter was transferred by the Asstt. Commissioner, Income Tax-I, Agra to Asstt. Commissioner, Income Tax, Circle 4 (1), Agra. (in the order dated 5.7.2012 we have incorrectly mentioned that the matter was transferred to Asstt. Commissioner of Income Tax, Circle-1; in fact the matter has been transferred to Asstt. Commissioner, Income Tax, Circle 4 (1)). Shri Ashok Kumar, learned counsel for the department informs the Court that no one on behalf of the petitioner appeared on 6th July, 2012 before the Assessing Authority and that he may have passed final orders on that day. The petitioner is aggrieved by notice dated 2.3.2012 issued to him by the Asstt. Commissioner, Income Tax-1, Agra under Sect....

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....-10 as per their family partition documents (Annexure-A). In order to pay the above amount to Shri Arvind Kapur the asessee took some money from M/s Mahim Patram (P) Ltd. in which he is a Director and a major share holder. The scrutiny assessment u/s 143 (3) of I.T. Act, of the assessee for A.Y. 2008-09 was passed by Asstt. Commissioner of Income Tax, Circle-1 (1), Agra. In the said assessment order (Annexure-B) money received from M/s Mahim Patram (P) Ltd. by the assessee was held to be deemed dividend u/s 56 r.w. with 2(22) (e) of I.T. Act, and added to the income of the assessee (vide paragraph 3.3.3, page no.11 of assessment order). This addition has subsequently been confirmed by Ld. Commissioner of Income Tax (Appeals)-I, Agra (vid....

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....sessee has not offered any income under the head 'income from other sources' u/s 56 r.w. section 2 (22) (e) of I.T. Act, in which head deemed dividend is to be taxed. The assessee is showing the buy back of shares as capital loss u/s 45 of I.T. Act which was incorrect and discussed in detail in the order u/s 143 (3) of I.T. Act dated 28.12.2011 passed by the Ld. Joint Commissioner of Income Tax, Range-4 Agra in the case of M/s Mahim Patram (P) Ltd. All the above records and assessment orders of the Range-1, Agra & Range-4, Agra were considered before initiating action u/s 148 of I.T. Act. such records are mentioned as "assessment records and computation of income" as mentioned in the reasons recorded u/s 148 of I.T. Act which has been du....

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....the Income Tax Act, 1961. The High Court took the view that the appellant could have taken all the objections in its reply to the notices and that, at that stage, the writ petition was premature. Accordingly , the writ petition was dismissed on 31st January, 2001. Aggrieved by that order, the appellant is in appeal before us. 4. Mr. M.L. Verma, learned senior counsel appearing for the appellant, submits that the impugned notices relate to seven assessment years; that during the pendency of these appeals, in respect of two assessment years, viz., 1995-96 and 1996-97, assessment has been completed against which appeals have been filed. Notices relating to the other five assessment years, viz., 1992-93, 1993-94, 1994-95, 1997-98 and 1998-99....