2015 (7) TMI 1129

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.... Respondent JUDGEMENT Heard. 2 RULE. 3 The challenge in this Petition is to the reopening notice dated 21st March, 2014 issued under Section 148 of the Income Tax Act, 1961 (the Act), seeking to reopen the Assessment for the A. Y. 2009-10. 4 The reasons in support of the reopening notice as furnished to the Petitioner in substance, are as under: (a) The Industrial Park does....

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....erefore, the Scheme of 2008 would have no application; (b) It was pointed out that the issue of income on renting of property should be considered as 'business income' was in fact subject matter of enquiry by the Assessing Officer while passing the Assessment Order on 30th March, 2011 for Assessment Year 2009-10 under Section 143(3) of the Act. Thus seeking to deny the same now wo....

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....ies upon various Court decisions to contend that reopening of an assessment is valid. 7 At the hearing, Mr. Mohanty, learned Counsel appearing for the Revenue emphasizes ground (a) in support of reopening notice and submits it is valid in view of Rule 18C of the Income Tax Rules (Rules). According to him, the Assessing Officer ought to have examined the applicability of 2008 Scheme to the Pe....