TaxTMI 
TaxTMI 
2017 (6) TMI 24
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....Income Tax, Circle-11(1), New Delhi ('DCIT') under Section 148 of the Income Tax Act, 1961 ('Act') seeking to re-open the assessment for Assessment Year ('AY') 2009-10. It also seeks to challenge the order dated 20th January, 2014 passed by the DCIT disposing of the objections by the Petitioner to the initiation of proceedings under Section 147 of the Act by the aforementioned notice. The consequent assessment proceedings are also sought to be quashed. 2. When the writ petition came up for hearing first on 10th March 2014, this Court while directing notice to issue in the petition restrained the Respondents from making a final order in respect of the impugned reassessment notice till the next date of hearing. That interim order has continu....
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....erein issued a notice under Section 148 of the Act to ICTIL for re-opening the assessment for AY 2009-10, which already stood concluded by the order under Section 143(1) of the Act, requiring ICTIL to file its return of income within 30 days of the receipt of the notice. Among the reasons for re-opening was the receipt of capital assets by ICTIL on 'nil' consideration from ICL. It was further stated therein that the demerger approved by the High Court was not compliant with the Act. 8. ICTIL replied to the above notices on 21st March, 24th September and 31st October, 2013 raising objections to the initiation of reassessment proceedings for AY 2009-10. ICTIL requested that the revised return filed by it on 31st March, 2010 under Section 139....
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....inable in law. (ii) In terms of the proviso to Section 153(1), the time limit for completion of the assessment for AY 2009-10 was 31st December, 2011 (21 months from the month of the AY). Further, the proviso to Section 143(2) of the Act requires that notice for assessment should be issued within six months from the end of the Financial Year ('FY') in which the return was furnished by an Assessee. In the present case, the original return was filed by ICTIL on 25th September, 2009 while the revised return was filed on 31st March, 2010. Therefore, the AO had time till 30th September, 2010 to issue notices under Section 143(2) of the Act. After the merger scheme was approved by this Court and ICTIL ceased to exist, notice in the meanwhile was....