return required to be
furnished under section 139 ;
(b) assess or reassess the total
income of six assessment years
immediately preceding the
assessment year relevant ... requisition is
made:
Provided that the Assessing Officer shall assess
or reassess the total income in respect of each
assessment year falling within such
subject to the provisions of sections 148 to 153 , assess
or reassess such income and also any other income
chargeable to tax which has escaped ... been computed.
Explanation 3.-- For the purpose of assessment or
reassessment under this section, the Assessing Officer may
assess or reassess the income in respect
person
where the search has been initiated. Hence, in
order to assess/ reassess the income of this
assessee, notices u/s 153C are hereby issued ... those
returns is or are pending, the assessment or reassessment relating to
those returns shall abate. The object obviously is to avoid
multiplicity of assessment
KHANNA, J.
OPG Metals and Finsec Ltd. by this writ petition challenges
reassessment notice dated 25th March, 2010 under Section 148 of the
Income ... October, 2010 passed by the Assessing Officer
dismissing their objections to the reassessment notice.
CONTENTIONS OF THE PETITIONER
2. The petitioner‟s first contention
from India.
2. Petitioner impugns and has challenged initiation of reassessment
proceedings under Section 147 read with Section 148 of the Income ... filed
WPC 9780/2009 Page 1 of 37
objections to the said reassessment notice which have been dismissed
by the respondent vide order dated
Section
153 , the Assessing Officer shall make an order
of assessment or reassessment,--
(a) in respect of each assessment year falling
within six assessment years ... Section 153-C , the period of limitation for
making the assessment or reassessment shall
be the period as referred to in clause (a) or
clause
20th December, 2010 under Section 143(3) of
the Act.
5. Thereafter, reassessment proceedings were initiated by the first
respondent by issue of impugned notice ... subject to the provisions
of sections 148 to 153 , assess or reassess such income
and also any other income chargeable to tax which has
escaped
Page 1 of 18
petitioner, the Assessing Officer wrongly issued notice for reassessment
under Section 147 / 148 of the Act on 5th July ... support of the contention that the Assessing Officer cannot issue
reassessment notice under Section 147 / 148 of the Act during the period
when the Assessing
Engineering & Construction Corporation) by this writ petition
challenges validity of the reassessment notice dated 29th March, 2007
for assessment year 2002-03, which ... short). As
the objections filed by the petitioner to the reassessment notice stand
dismissed vide order dated 23rd August, 2007, the said order is also
dismissing the objections of
the petitioner No. 1 to initiation of the reassessment proceedings.
2. The contention raised by the petitioner No. 1 is that ... reassessment proceedings have been initiated on mere change of opinion
WPC 5988/09 Page 1 of 23
as the issue; interest received and interest paid
