TaxTMI 
TaxTMI 
2018 (5) TMI 160
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....7th November, 2017 disposing of the petitioners' objections to the reasons in support of the impugned notice. The impugned notice seeks 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. 201011 in your case is as under : "............. The assessee company M/s. Mayurpankh Fine Builders Pvt. Ltd. has filed return of income for A.Y. 201011 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 t....
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....ng the present petition, the Assessing Officer has filed an affidavit-in-reply dated 25th January, 2018 in support of the impugned notice. In the above affidavit, 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 o....
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....or of Income Tax (Investigation) which forms basis of the reasons. 4. At the hearing, Mr. Khurana the learned counsel for the Revenue seeks to place reliance upon the CBDT Circular dated 10.1.2018 issued to the officer of the Revenue of the manner in which reopening notice have to be issued and in particular, in paragraphs 2 and 3 thereof requires the reasons to mention the details of the relied upon documents." 6. In our view, this petition could be disposed of on similar lines. Although, it was contended that the Assessing Officer may pass the same order rejecting the petitioners' objections, we do not accept this submission. We are confident that the Assessing Officer would independently apply his mind to the petitioners' o....
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....ctions to the reasons in support of the notices dated 30th March, 2107, are quashed and set aside. The Petitioner is given an opportunity to file fresh objections to the reasons in support of the impugned notice dated 30th March, 2017 in the context of the material now made available (relied upon by the Revenue in its affidavit in reply). 4. Mr. Sinha, learned Counsel for the Petitioner states that the Petitioner would file its objections, within two weeks from today. 5. The Assessing Officer would pass a fresh order, disposing of the objections within a period of four weeks from the date of filing of the fresh objections. However, the Assessing Officer will not act upon the impugned notice for the period of four weeks from the date o....