2024 (3) TMI 1409

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....nder Section 148 of the Act seeking to reopen the assessment for A.Y. 2010-11. The reasons in support of the impugned notice as communicated to the petitioner is on the basis that the provision for warranty made by the petitioner was not made on a scientific basis and reliance was placed upon the provisions made in the earlier assessment years. 3. During the course of assessment proceedings leading to an order dated 29th March, 2014 passed under Section 143(3) of the Act, the Assessing Officer had by communication dated 3rd December, 2013 called for specific details with regard to provision for warranty of Rs. 8.55 crores made by the petitioner. This on the ground that the same was on the basis of estimates and hence could not....

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..... Mr. Malhotra, the learned counsel for the Revenue placed reliance upon the decision of this Court in Export Credit Guarantee Corporation of India v/s. Additional Commissioner of Income tax and others 350 ITR 651 to submit that where an Assessing Officer has overlooked or ignored in his assessment order the issue which arose for consideration during the assessment proceedings, it cannot be deemed that the Assessing Officer has accepted what has been overlooked or ignored in the assessment order. However, in the aforesaid case (within a period of four years from the end of the assessment year as in the present case) no query was raised by the Assessing Officer on the issue on which the assessment was sought to be reopened during the course ....