2017 (9) TMI 851

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....nior Standing Counsel for Income Tax Department with Mr. Vikrant A. Maheshwari, Advocate. O R D E R  1. This is a writ petition seeking quashing of the notice dated 30th March 2016 issued to the Petitioner under Section 148 of the Income Tax Act, 1961 ('Act') by the Deputy Commissioner of Income Tax, Circle 12 (1), New Delhi (hereafter Assessing Officer -'AO') for the Assessment Year ('AY')....

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....ee had debited an amount of Rs. 1,08,67,187/- in its P&L account towards interest as against Rs. 11,582/- claimed in the immediately preceding AY i.e. AY 2008-09. The AO noted that neither had the Assessee furnished any details nor had the AO any occasion to verify the said amount of interest debited in the P&L account. The AO further noted that information had been received from the Investigation....

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.... had escaped assessment. There is no mention of which material facts were failed to be disclosed by the Assessee. 5. Although there is an assertion in the reasons that the Assessee had not furnished the relevant details regarding the payment of interest, the Court finds that the said assertion is factually incorrect. In the course of the original assessment proceedings, a questionnaire was issued....