2004 (3) TMI 21

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....his petition. A petition can be filed only by a citizen and not by a firm. However, to avoid undue delay, we direct the petitioner to join Sh. S.P. Gupta, a partner of the firm, in his individual capacity as petitioner No. 2 and the registry shall give a separate number on payment of court fee. If that is not done within a period of four days, the petition shall stand dismissed automatically and our order shall not be carried forward. By issuance of notice annexure P1, the petitioner was requested to file a true and correct return of total income including the undisclosed income in respect of the firm. The return was required to be filed in the prescribed Form No. 2B and was to be delivered within a period of 15 days of service of the no....

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....hapter shall apply accordingly." As the Assessing Officer was satisfied, in the course of assessment in respect of Sunair Hotels Ltd., that there was undisclosed income belonging to the petitioner, the said Assessing Officer, as contemplated in section 158BD of the Act, handed over the documents, etc., to the other Assessing Officer having jurisdiction over the petitioner and it is thereafter the latter Assessing Officer issued notice under section 158BC of the Act. Learned counsel for the petitioner submitted that the petitioner had sent a reply immediately and despite the reply, no reasons or satisfaction recorded by the Assessing Officer have been supplied to the petitioner. We find that section 158BD is somewhat analogous to secti....

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....ce of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order." Using the same parity of reasoning, we direct the Assessing Officer to supply the reasons recorded for arriving at a satisfaction to the petitioner within a reasonable time upon the petitioner filing a return as required by the impugned notice. On receipt of the same, the petitioner would be entitled to file objections to the issuance of the notice and the Assessing Officer shall dispose of the same by passing a speaking order. It will be open for the petitioner to take the objection with regard to limitation and it will be for the Assessing Officer to pass a speaking order. After such speaking order is passed, the Assessing Officer shall....