2017 (1) TMI 852

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.... ORDER P. C. 1. This petition challenges Notice dated 5th October, 2015 under Section 148 of the Income Tax Act, 1961 seeking to reopen the assessment for Assessment Year 201011. 2. The petitioner filed its Return of Income on 24th March, 2012 declaring a total income of Rs. 2.21 lakhs. The Return of Income was processed under Section 143(1) of the Act and was communicated to the petitio....

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....led for the subject assessment year was not a subject matter of examination earlier as the same was processed under Section 143(1) of the Act. The reasons indicate two independent basis for reasonable belief that the income chargeable to tax has escaped assessment. The first is the petitioner did not carry out any business activity during the subject assessment year and, therefore, no loss could b....

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....ture which has nothing to do with the business is being claimed as business expenditure. At the stage of issuing a notice all that the Assessing Officer has to reach is a prima facie view that the income chargeable to tax has escaped assessment and there must be reasons for that belief. It is not expected of the Assessing Officer to have a castiron case before exercising jurisdiction to issue reop....