2024 (3) TMI 1501

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l K. Jasani,. For the Respondents-Revenue: Mr. N.C. Mohanty,. PC:- 1. At the time of admission on 20th April, 2016, the Court was pleased to pass the following order: "1. Heard. Rule. 2. This petition under Article 226 of the Constitution of India challenges a notice dated 31st March, 2015 seeking to reopen the assessment for Assessment Year 200910. Thus, the notice is b....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....efit of Section 36(1)(viia) of the Act to the extent of 7.5% of its total income during the regular assessment proceedings. Our attention was invited to a note made to the computation of income to the effect that any claim under Section 36(1)(viia) of the Act has been restricted to 7.5% of the total income. During the course of the regular assessment proceedings leading to the order dated 8th Dece....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt were disclosed to the Assessing Officer during the course of the assessment proceedings as the reasons do not indicate what information was not disclosed truly and fully. The basis of the notice appears to be the decision of the Apex Court in Catholic Syrian Bank Ltd. (supra) which according to the Revenue seems to suggest that in the absence of Rural branches, it is not open to claim the benef....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r Section 143(3) of the Act having been passed on 8th December, 2011 and the notice under Section 148 of the Act was issued four years after the expiry of the relevant assessment year. 3. We are also satisfied that the issue was also a subject of consideration during the assessment proceedings. 4. In the circumstances, Rule issued on 20th April, 2016 is made absolute in terms of prayer claus....