2004 (2) TMI 57

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.... petition), by which the return filed under section 139(1) in compliance of notice under section 148 has not been accepted. It is prayed that the return under section 139(1) in compliance of notice under section 148 be accepted. Heard learned counsel for the parties. The petitioner is a company registered under the Indian Companies Act having its head office at Varanasi. The petitioner established a vanaspati manufacturing unit which started production from March 29,1990. The petitioner maintains account on mercantile basis. For the assessment year 1990-91, the petitioner filed a return under the Income-tax Act on December 31,1990, declaring a loss of Rs. 24,61,860. Notice under section 143(2) of the Act dated June 18,1991, was iss....

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....eceived a notice under section 148 of the Act dated March 18,1994, alleging that the income of the petitioner chargeable to tax for the assessment year 1990-91 had escaped assessment and asking to the petitioner to submit a return. True copy of the notice is annexure 4 to the writ petition. The petitioner filed a reply dated March 24,1994 (vide annexure 5 to the petition). In this letter he has stated that the return filed under section 139(1) should be taken to be the return in compliance of the notice under section 148.The petitioner has also prayed that the reasons recorded under section 148 be supplied to him. In response the respondent passed an order that the return filed under section 139(1) shall not be accepted as the return ....