2011 (3) TMI 1527

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..... The petitioner is a company having its office at Noida, U.P. It has imported SIM cards and Smart cards and thereafter they were sent to Hyderabad. In the assessment year 2000-01, the assessment order under the U.P. Trade Tax Act, 1948 ("the Act") was passed on February 27, 2003, in which time was granted to the assessee to submit form F. 2. The assessee submitted this form F and this was a....

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....he assessee submits that: The form F was accepted and the transactions were merely a transfer of stock; It is change of opinion; and The approval dated March 20, 2007 and the notice dated March 22, 2007 are illegal. 8. The notice for reassessment has been issued on the ground that: The SIM cards and smart cards that were transferred were identified to be sold to different companies;....

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.... it were stock transfers. In view of this, it cannot be said that it is change of opinion. Whether it is merely a stock transfer or not is to be decided after considering the evidence. In view of this, there is no illegality in granting the approval or issuing the notice. 11. In this writ petition an interim order was passed on April 24, 2007, granting liberty to the assessing officer to pass t....