2012 (12) TMI 1263

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.... 4 years, without prior approval of the Commissioner. Vide impugned notice dated 6.11.2009 the Assistant Commissioner of Taxes proposed to re-assess the turnover of the petitioner for the year 2002-03 and 2003-04 under Section 18(1)(a) of the Act. The notice was followed by the order of re-assessment creating demand for tax. Case of the petitioner is that as per statutory limitation laid down under the Act re-assessment is permissible within 4 years. Extended period of 8 years is permitted subject to the condition that the Commissioner is satisfied that ground for re-assessment is made out. However, in the present case, no satisfaction has been recorded by the Commissioner as statutorily required. Thus, re-assessment is permissible on....

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....ver: Provided that no such notice shall be issued in a case falling under clause (a) after the expiry of four years from the end of the year in which an assessment under section 17 for the relevant year was first made in his case unless the Commissioner is satisfied on the reasons recorded that, it is a fit case for the issue of such notice: Provided further that notwithstanding anything contained in sub-section (4) of section 3, the powers of the Commissioner to accord sanction for the issue of a notice as aforesaid shall not be delegated by him to any person appointed to assist him under sub-section (1) of section; 3: Provided also that a notice under the forgoing provisions may be issued at any time for the pur....