2019 (2) TMI 996

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....narrow compass and with the consent of the learned advocates for the respective parties, the matter is taken up for final hearing today. 3. By this petition under Article 226 of the Constitution of India, the petitioner has challenged the notice dated 30.3.2018 issued by the respondent under section 148 of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), seeking to reopen the assessment of the petitioner for the assessment year 2011-12. 4. The petitioner, a company, is engaged in the business of manufacturing of pharmaceutical products. For the assessment year 2011-12, the petitioner filed the original return of income on 5.9.2011 declaring total income of Rs. 31,18,79,250/-. Thereafter, survey proceedings under sectio....

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....7 of the Act is without authority of law. Referring to the reasons recorded, it was pointed out that the Assessing Officer has relied upon the material on record for the purpose of reopening the assessment and that no new material has been found by him. It was submitted that it is evident that the assessment is sought to be reopened on the basis of the very material which the assessee has placed on record and, therefore, there being no failure on the part of the petitioner, the Assessing Officer has no jurisdiction to initiate proceedings under section 147 of the Act. 5.1 The attention of the court was invited to a judgment and order dated 21.2.2018 passed by this court in the petitioner's own case rendered in Special Civil Applicati....

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....case also, a perusal of the reasons recorded reveals that the Assessing Officer has not been able to pin-point any specific failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the year under consideration, and has merely made a general statement that though the assessee has filed a copy of annual report and audited profit and loss account and balance-sheet along with return of income, where various information/material were disclosed, the requisite material facts for reopening the assessment were embodied in such a manner that the material evidence could not be discovered by the Assessing Officer and could be discovered with due diligence attracting the explanation to the pro....