2018 (4) TMI 806

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....s to reopen the assessment for Assessment Year 2010-11. 2. The reasons in support of the impugned notice as communicated to the petitioner read as under : "2. Reason recorded for reopening the assessment of A.Y. 2010-11 in your case is as under : "............. The assessee company M/s. Mayurpankh Fine Builders Pvt. Ltd. has filed return of income for A.Y. 2010-11 declaring income of Rs. 2,64,000/which has been accepted u/s 143(1) of I.T. Act. The assessee company has filed the return of A.Y. 2010-11 under PAN AAACN5643E which is assessed under this charge. The information has been received from the office of the ADIT(Inv.) Unit 3(4), Mumbai that M/s. Sunshine Merchants Pvt. Ltd. has 2 accounts with the bank under PAN AAGCA1771R Account....

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....fidavit, the Assessing Officer supports the reasons recorded for the issue of the impugned notice on the information dated 8th March, 2017 received from the office of the Additional Director of Income Tax (Investigation), which formed the basis of the reasons to believe that income chargeable to tax has escaped assessment. 5. In identical circumstances, this Court in Shri Dhlraj Uttamchand Jain Vs. Asstt. Commissioner of Income Tax & Ors. (Writ Petition No. 10 of 2018), rendered on 8th March, 2018, had restored the objections of the petitioners to the Assessing Officer to pass a fresh order after considering the fresh objections to be filed by the petitioners to the reasons in the context of the material relied upon by the Assessing Office....