2014 (5) TMI 589

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....ondent : Mr. N. P. Sahni, Sr. Standing Counsel with Mr. Nitin Gulati, Jr. Standing Counsel ORDER The Revenue has produced the records pursuant to the previous order of the Court. The petitioner impugns a reassessment notice under Section 148 seeking to reassess the income for AY 2005-06. The assessment had been originally completed under Section 143 (3) of the Act on 26.02.2007. The reaso....

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....  It also came to notice that the assessee has deducted Rs.2760868/- in the computation sheet on account of expenditure incurred on leasehold improvement which was capital expenditure and the assessee has claimed depreciation on the same u/s 32 of the Act. Thus, the amount of Rs.2760868/- was not to be deducted from the computation. As I have reason to believe that the income chargeable to....

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.... The petitioner also contends that the re-assessment was completed pursuant to the impugned notice without serving the notice or the order rejecting the objections preferred by the petitioner. It is, therefore, submitted that the impugned reassessment notice as well as the fresh assessment pursuant to it are untenable in law.  Learned counsel for the respondents has produced the records. A....