TaxTMI 
TaxTMI 
2016 (7) TMI 339
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....rs of residential properties. For the assessment year 2013-14, the petitioner firm filed its return of income on 26.09.2013, admitting a total income of Rs. 12,62,277/-. This case was selected for scrutiny under Section 143(2) of the Income Tax Act and notice was issued on 05.06.2015. 3. During the course of hearing, the petitioner is said to have clarified to certain issues relating to opening work in progress brought forward from the previous assessment year 2012-13 to the assessment year 2013-14 as Rs. 4,11,36,009/-. For the assessment year 2012-13, it was stated that the figure of Rs. 1,75,56,500/- was shown as work in progress as on 31.03.2012 in the e-return which is filed by the petitioner. The petitioner is said to have clari....
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....oans along with pan numbers etc., details of unsecured loans obtained from financiers along with pan numbers etc., details of sundry creditors along with pan numbers and details of advance received from the customers along with the name and pan numbers. 6. The first respondent granted an opportunity of personal hearing to the petitioner and they were represented by their authorized representative who had also filed the written submissions on 22.02.2016. The first respondent has considered the submissions and has passed an order on 19.03.2016. The petitioner has challenged the said order in this writ petition contending that though several issues were raised by the petitioner, the first respondent without considering and appreciating the su....
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....ed. After some argument, the learned counsel for the petitioner prays that they may be permitted to withdraw the application filed under Section 144A of the Act and are willing to go before the second respondent/Assessing Officer and place all points. 10. The learned counsel for the respondent submitted that the petition has been considered and orders have been passed. 11. In my view, no prejudice would be caused if the petitioner if permitted to approach the Assessing Officer and raise all the issues. In fact Section 144A is a provision which empowers the Joint Commissioner to give guidance to the Assessing Officer to enable him to complete the assessment. Thus, the ultimate object to be achieved is to complete the assessment. Ther....