2017 (3) TMI 1238

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....oner is before this Court praying for issuance of writ of certiorari calling for the records pertaining to the notice dated 30.09.2015 [Annexure-A in both petitions] issued by the first respondent under the provisions of Section 148 of the Income Tax Act (for short hereinafter referred to as 'the Act') seeking to reopen and reassess the assessment in respect of the period 2009-10 and 2010-2011 and the order disposing off the petitioner's objections dated 28.10.2016, vide annexures-J to both the writ petitions, whereby the objections to the notice came to be rejected by the second respondent. 4. It is contended on behalf of the petitioner that the assessment i.e., returns were filed for both the years 2009-10 and 2010-2011 on ....

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.... of expenditure. 6. It is stated that subsequently, the committee [Justice M.B. Shah, Commission] which was appointed by investigate the illegal iron ore mining, submitted a report. It is further stated that as per the report submitted by the Commission, the petitioner has been accused of being involved in illegal mining and the material relied upon by the Commission disclose huge under invoicing in the sale of iron ore. The details of the invoices and the relevant invoices are also furnished and the invoices are dated 14/1/2009 to 25/9/2009 pertaining to the assessment year 2009-10. The reasons and the grounds on which the respondent authorities have arrived at the conclusion of under invoicing is also furnished in the tabular column. B....

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....tioner. 10. The said reasons have been assailed by way of filing of objection to reopening of the assessment for the assessment years 2009-2010 and 2010-2011. The objections have been dealt with in detail by the second respondent, and it is stated that in view of the subsequent facts, which came to light on account of the material provided by the Inquiry Commission, the authorities have acquired tangible materials and based on the material, they have prima facie arrived at a conclusion that the income has escaped assessment. Hence, they justified the proceedings under Section 148 of the Act for reassessment of the income for the year 2009-10. The reasons accorded under the impugned order dated 28/10/2016 prima facie justifies the proceed....