2019 (1) TMI 1069

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....9992) For The RESPONDENT (s) : MRS MAUNA M BHATT (174) ORAL ORDER (PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. Mr. Ketan Shah, learned advocate for the petitioner invited the attention of the court to the reasons recorded to submit that the Assessing Officer seeks to reopen the assessment of the petitioner on two counts, firstly on the count that the assessee company has paid interes....

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....l Fincomm Pvt. Ltd. is a paper company operated by one entry operator Manoharlal Nangalia. It was submitted that in respect of the year under consideration, the said company namely Royal Fincomm Pvt. Ltd. has been subjected to scrutiny assessment and Assessment Order has been framed vide order dated 29.11.2016 after hearing the representative of the said company. Attention of the court was invited....

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....re advanced on 26.03.2013 is out of the said reserved. It was submitted that, therefore, on the reasons recorded, the Assessing Officer could not have formed the belief that the income chargeable to take has escaped assessment. It is further submitted that the Assessing Officer seeks to reopen the assessment on the basis of audited accounts and hence, the reopening is bad in law. 4. Having rega....