TaxTMI 
TaxTMI 
2022 (8) TMI 967
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.... filed a return of income (ROI) within the statutory time limit provided. Proceedings for reassessment had come to be initiated and the petitioner had initially filed W.P.No.32806 of 2019 challenging such proceedings. 2. The cause of action encompased proceedings commencing with notice under Section 148 of the Act dated 22.03.2019 till the passing of order dated 31.10.2019 rejecting the petitioners' objections, both included.W.P.No.32806 of 2019 had come up for admission of 22.11.2019, when an interim stay of proceedings had been granted for a period of six weeks. 3. However, the order of assessment in this case appears to have been passed on 13.11.2019. The intimation letter communicating the document identification number for the as....
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....r of assessment dated 13.11.2019. 1. The impugned order of assessment has been received by the petitioner on 21.11.2019 but unfortunately has not been brought to the notice of this Court on 22.11.2019. 3. List on 29.01.2020. Interim stay till then. Counter to be filed by then as well. 5. Pleadings have been completed in both writ petitions thereafter. In W.P.No.32806 of 2019, the petitioner has raised substantive grounds challenging the assumption of jurisdiction by the assessing officer. The Assessing Authority has however, chosen to restrict the counter only to the procedure followed in passing the order of assessment, emphasising that with the passing of an order, this writ petition is rendered infructuous. 6. How....
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.... of the Act, I would test the veracity of the proceedings based on the disclosure made by the petitioner at the first instance, that is, in the financials accompanying the returns as well as in the correspondences exchanged between the petitioner and the respondents prior to passing of the original assessment order. 10. To be noted that the instant re-assessment proceedings have been initiated beyond a period of four years from the end of relevant assessment year and thus would require the respondents to satisfy the statutory condition provided under Section 147 of the Act, extracted below: Income escaping assessment. 147. If any income chargeable to tax, in the case of an assessee, has escaped assessment for any assess....
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....at a full, true and complete disclosure had not been made by the petitioner at the first instance. The reasons for re-assessment read thus: Government of India Ministry of Finance Office of the Assistant Commissioner of Income-Tax Large Taxpayer Unit-1 1775, Jawaharlal nehru inner ring road Anna nagar Wester Extension, Chennai 600 101 PAN:AACG2115R/AY-2012-3 Dated:23.05.2019 To The Principal Officer M/s Alstom T & D India Limited, I.O.C. Building, 19/1, G.S.T.Road, Pallavaram, Chennai-600043. Sir, PAN:AAACG2115R, Sub:Reasons for reopening u/s 147 of Income Tax Act-AY 2012-13 Communication of reg- Ref:This office notice ....
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.... as part of the records, the tax audit report in Form 3CD containing, interalia, appendices 7 and 8. The appendixes set out the particulars of the expenditure incurred under Section 43B also referring to the rates and taxes of land tax, leave encashment, gratuity and others. Specifically, in column No.5, the petitioner makes reference to the amount transferred on demerger of the petitioner company. 14. The Assessing Authority issued a questionnaire in terms of Section 142 (1) dated 30.11.2015 wherein several queries were raised, and calling for clarifications, including the following: . . . . 8. Details of all provisions made towards items of expenditures like bad debt, warranty etc., made during the year. 9. D....