2014 (6) TMI 289

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....itioner has challenged a notice dated March 23, 2012, as at annexure A to the petition issued by the respondent-Assess- ing Officer under section 148 of the Income-tax Act, 1961 ("the Act" for short). The petitioner is a company registered under the Companies Act. For the assessment year 2007-08, the petitioner filed its return of income declaring a total income of Rs. 17.68 crores (rounded off....

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....icer had considered the question of depreciation, bearing in mind the provisions contained in section 32(2)(iii) of the Income-tax Act, 1961, as amended on April 1, 1997. Such issue, therefore, cannot be allowed to be re-agitated, by way of reopening of the assessment. Learned counsel, further, submitted that notice for reopening the assessment was issued on March 23, 2012, whereas, the reasons fo....

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....f the original file which were also made available for our perusal today that the petitioner's averments in this respect are correct. With his assistance, we have perused the file which reveals without any doubt that the notice was issued on March 23, 2012. We are informed that the same was received by the petitioner on March 26, 2012. Thus, on the date of issuance of notice, no reasons for is....