Allied Strips Limited vs Assistant Commissioner Of Income … on 12 May, 2016

1. This writ petition pertains to the assessment year 2007-08 and
seeks quashing of notice dated 27.03.2014 issued by respondent under
Section 148 of the Income Tax Act, 1961 (hereinafter referred to as
the said ‘Act’) and the consequent proceedings thereto including the
order dated 23.02.2015 dismissing the objections filed by the

WP(C)No.2526/2015 Page 1 of 16
2. The main challenge raised in the writ petition is that the re-
assessment proceedings have been initiated after a period of 4 (four)
years from the end of the relevant assessment year and the pre-
condition for such initiation that there was failure on the part of the
assessee to fully and truly disclose all the material particulars
necessary for the assessment is absent. It is contended that there was
true and full disclosure of all material particulars made by the assessee
and the reasons for re-opening do not even show that there was any
such failure on the part of the assessee. It is further contended that it is
a clear case of change of opinion, in as much as, the issue sought to be
raked up by way of the impugned notice under Section 148 of the Act
had been duly considered by the Assessing Officer during the original
assessment under Section 143(3) of the Act.

Source: Indian Kanoon

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