2007 (1) TMI 100

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....ed this Court praying for issuance of a writ of Certiorari seeking quashing of assessment proceedings for the assessment year 2005-06. 2 Briefly the facts are that petitioner is a private limited company carrying on its business in the manufacture and export of Atam brand gun metal, bronze, brass, S.S.C.L.C.S. forged steel valves, cocks & boiler mountings. A survey under Section 133A of the Inc....

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....certain guidelines for selection of cases for scrutiny during the financial year 2005-06. The instructions, inter-alia, provide that cases where survey has been conducted shall be compulsorily scrutinised. We do not find any merit in this contention of the petitioner that the survey having been conducted after the close of the previous year, the assessment for that year could not be taken up for s....

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.... Officer has the authority to proceed with the assessment in terms of Section 143 of the Act and for that notice was issued to the petitioner on December 26, 2005 seeking clarification on certain points in connection with return of income. Any information which has come into the possession of the Department before the assessment is complete can very well be used even during proceeding of regular a....