TaxTMI 
TaxTMI 
TaxTMI 
2025 (8) TMI 1195
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....of income to the tune of Rs. 29,56,452/- for the Assessment Year 2010-11 on September 10, 2010. The case was accordingly processed under Section 143(1) of the said Act. Subsequently the information was received from the Directorate of Income Tax (Intelligence and Criminal Investigation) Kolkata (herein after referred to as DIT (INV) for the sake of brevity and convenience) about booking loss of Rs. 14,44,92,868/- by the assessee through client code modification. The said fact was brought to the notice of the said DIT (INV) during the spot verification and inspection conducted under Section 131(1A) of the said Act. The case was reopened by issuing notice under Section 148 of the said Act on March 23, 2015 after recording the reasons for reop....
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....ubmitted that the present order u.s. 147/143(3) of I.T. Act, 1961 shall be governed by the direction of Hon'ble Justice of Calcutta High Court at any point of time in future and will be the subject matter of all directives of the Hon'ble Court." 4. Thereafter on April 05, 2016 the writ petition pending before this Hon'ble High Court was finally disposed of with a direction:- "The concerned Deputy Commissioner to deal with the grounds indicated in the petitioner's letter of March 2, 2016 by a reasoned response to be communicated to the petitioner within four weeks from date. Upon the failure of such communication within the time indicated, the notice under Section 148 of the said Act will stand set aside. Upon the communication being mad....
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....gh Court. In reply thereto the respondent authorities intimated that the request could not be acceded to due to the point of limitation and secondly, there exists no orders specifically, restraining the authorities concerned in passing the order of assessment. It was further submitted that the Assessing Officer despite being aware of the pendency of the Writ Petition No. 282 of 2010 pending before this Hon'ble High Court, the order of assessment was passed hurriedly in order to save the limitation. In terms of the Order dated April 5, 2016 the respondent authorities failed to comply the same and also did not assign any reasons in the affidavit in opposition filed by the respondent authorities for such non compliance of the order. 8. It was....
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....143(2) was also issued on March 23, 2016. The order of assessment was passed on March 23, 2016 at the assessed income of Rs. 14,74,49,320/- including the concealed income of Rs. 14,44,92,868/- due to disallowance of loss booked through Client Code Modification. It was further contended that though objection was raised against the notice issued under Section 148 of the said Act but the same could not be acceded to due to the same being time barring assessment and also the respondent authorities were not restrained by any order of injunction or stay to pass the order of assessment. 10. In the conspectus of the above it clearly shows that the main ground of challenge is with regard to the order of assessment passed under Section 147/143(3) of....
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....case, as the reasons have been disclosed in these proceedings, the assessing officer has to dispose of the objections, if filed, by passing a speaking order, before proceeding with the assessment in respect of the abovesaid five assessment years." (Emphasis Supplied) 11. It is very pertinent to note that at the time of disposing of the Writ Petition No. 282 of 2016 the learned counsel for the respondents had failed and/or neglected to bring to the notice of the Coordinate Bench of this Hon'ble Court at the time of hearing the order of assessment which had already been passed on March 30, 2016. On the contrary the Assessing Officer observed in the Order of the Assessment, that the said order shall be governed by the direction of the Hon'....