2007 (2) TMI 623

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....erred to as "the Act") is directed against the order of the Tribunal dated March 29, 2006 relating to the assessment year 1999-2000. The applicant was engaged in the business of manufacture and sales of cement. The assessing authority passed the original assessment order under section 7 read with rule 41 on February 28, 2001. It appears that thereafter proceeding under section 21 of the Act was....

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....unsel for the parties. Learned counsel for the applicant submitted that before the Tribunal it was submitted that the initiation of proceeding under section 21 of the Act was barred by limitation inasmuch as the notice was issued on July 21, 2002, while the permission under the proviso to section 21(2) of the Act was given by the Additional Commissioner on August 23, 2002. It was also submitted....

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....e date was fixed for September 9, 2002 and the notice was received by the applicant on September 3, 2002. He submitted that in the notice no date of its issue is mentioned, thus it is not clear when the notice under section 21 of the Act was issued. Having heard the learned counsel for the parties, I have perused the order of the Tribunal and the authorities below. In my view, the issues ....

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....ide the issues, namely, (1) whether the notice under section 21 of the Act was issued before obtaining the approval from the Additional Commissioner and if it is so, what is its effect; (2) whether at the time of issue of notice, there was material which led to form a belief that there was escaped assessment; and (3) whether in view of the circulars, reason should be recorded and in case, the reas....