2007 (11) TMI 288

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.... Income-tax Act, 1961, calling upon the petitioner-assessee for filing return. 2. The petitioner is a limited company carrying on the business of construction of dam canal, railways, roads, etc. In September, 2003, the petitioner-assessee filed return for the year 2003-04. The petitioner's case is that return so filed was processed under section 143(1) of the Act and refund voucher of Rs. 20,48,390 was issued to the petitioner on the basis of refund order after adjustment of the demand for the assessment year 1997-98 and the said demand was duly approved by the Assistant Commissioner of Income-tax, Ranchi. However, on February 7, 2007, the petitioner received two notices under section 148 of the Act issued by the Assistant Commissioner o....

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....vation made by the Commissioner of Income-tax. 4. The respondents in their counter-affidavit have stated, inter alia, that after the impugned notices were issued the petitioner-assessee was supplied reasons for issuance of notice but no objection was filed before the Assessing Officer rather the petitioner approached this court directly by filling instant application. It is further stated that no direction was issued by the Commissioner of Income-tax to the Assessing Officer to initiate proceeding under section 147 of the Act. In fact letter was issued by the Commissioner of Income-tax, Ranchi, wherein he made certain observations on the return of income filed by the petitioner, which indicate escapement of income. The Additional Commiss....

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.... appellant could have taken all the objections in its reply to the notices and that, at that stage, the writ petition was premature. Accordingly, the writ petition was dismissed on January 31, 2002. Aggrieved by that order, the appellant, is in appeal before us. Mr. M. L. Verma, learned senior counsel appearing for the appellant, submits that the impugned notices relates to seven assessment years; that during the pendency of these appeals, in respect of two assessment years, viz., 1995-96 and 1996-97, assessment has been completed against which appeals have been filed. Notices relating to the other five assessment years, viz., 1992-93, 1993-94, 1994-95, 1997-98 and 1998-99, are now the subject-matter of these appeals. We see no justif....