2015 (10) TMI 1087

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....lenge is to the Notice issued by the respondent under Section 148 of the Income Tax Act, 1961 for reassessment on the ground that there is reason to believe that income chargeable to tax for the assessment year 1996-97 has escaped from assessment, the petitioner is now before this court. 2. The case of the petitioner in brief is as follows:- The petitioner is a partnership firm and it is engage....

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....sdiction under Section 147 of the Act and a consequential assessment was framed on 24.03.2000 in terms of Section 143(3) r/w 147 of the Act by the respondent. There was a difference in respect of income chargeable to tax for the assessment year 1996-97 between the respondent and the petitioner relating to lease rental income on cinematograph films. The petitioner claimed hundred per cent depreciat....

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.... of the assessing officer for proceeding further with reassessment, the petitioner is before this court. 5. The learned counsel appearing for the petitioner would submit that Section 147 of the Income Tax Act as well as the proviso to the same are very clear which prescribe that any proceedings made on valid assumption as well as for issuance of notice under Section 148 of the Income Tax Act th....

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.... thereafter seek appropriate details from the assessing authority. Hence, he seeks to dismiss the writ petition. 7. Having regard to the above submission and the facts and circumstances of the case, this court is of the considered view that the petitioner could be directed to file necessary returns and thereafter claim necessary particulars from the assessing authority and on receipt of such re....