2022 (2) TMI 708

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....h for Petitioner. Mr. Suresh Kumar for Respondents. ORDER P.C. : 1. Petitioner's case was selected for scrutiny and the assessment order under Section 143(3) of the Act was passed on 22nd February, 2016. Petitioner received a notice dated 20th March, 2020 under Section 148 of the Income Tax Act, 1961 (the Act) for A.Y. 2013-14 stating that revenue has reasons to believe that petitioner....

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....h of the directions given in Asian Paints Ltd. vs. Deputy Commissioner of Income Tax, [2008] 296 ITR 90 (Bombay) an assessment order came to be passed on 29th September, 2021 within five days. This court in Asian Paints Ltd. (supra) held that if the Assessing Officer does not accept the objections filed, he shall not proceed further in the matter within a period of four weeks from the date of serv....

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....fficer. Mr.Savla has taken us through documents annexed to the petition and it is quite obvious that petitioner had made available all details and documents relating to the issue raised in the reasons for re-opening. As per the Jurisdictional Assessing Officer (JAO) petitioner had entered into a transaction with a related party being Nelco Limited. The Tax Auditor and Transfer Pricing Auditor repo....

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.... the Assessing Officer on this issue by a letter dated 14th August, 2015 and reply giving all the details were provided by petitioner by a letter dated 6th November, 2015, 27th January, 2016 etc. Courts have repeatedly held that once a query is raised and that has been explained by the assessee, even if there is no discussion on that aspect in the assessment order still the Assessing Officer is de....