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TMI Blog2014 (9) TMI 726X X X X Extracts X X X X X X X X Extracts X X X X ..... n the Revenue shall be entitled to revive its proceedings pursuant to the impugned notice u/s 148 of the Act and the assessee shall not take up the plea of limitation - As of now, the re-assessment proceedings initiated by virtue of the notice u/s 148 does not survive – Decided in favour of assessee. - W. P. (C) 4183/2012 and CM No. 8700/2012 - - - Dated:- 16-9-2014 - Badar Durrez Ahmed And Siddharth Mridul,JJ. For the Petitioner : Mr Mayank Nagi For the Respondent : Mr Sanjeev Sabharwal, Senior Advocate with Mr Ruchir Bhatia and Ms Swati Thapa JUDGMENT Badar Durrez Ahmed, J (Oral) 1. This writ petition is directed against the notice dated 22.03.2012 issued under Section 148 of the Income-tax Act, 1961 in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009-10. It was concluded by the Assessing Officer that, where all other things remain the same, the inference drawn during the assessment proceedings for assessment year 2009-10 with respect to the excessive deduction claimed under Section 10A of the said Act was equally applicable in respect of the assessment year 2006-07. 3. We are now informed by the learned counsel appearing on behalf of the petitioner that the appeal in respect of the assessment year 2009-10 being ITA No. 348/Del/2013 has been allowed by the Income Tax Appellate Tribunal, New Delhi. Apart from the observations on law, on facts it has been held by the Tribunal as under:- It can be seen from the facts of the instant case that the AO has simply treated high profi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year 1999-2000 and that the sole and entire basis of re-opening the assessment were the additions made in respect of the assessment years 1998-99 and 2001-02. No other reason had been given by the Assessing Officer for re-opening the assessment. Since the Tribunal, in that case had already deleted the additions in respect of the assessment years 1998-99 and 2001-02, the very basis for continuing any further with the re-assessment proceedings in respect of the relevant assessment year (1999-2000) did not survive any further. It was specifically noted in the said decision in Silver Oak Laboratories (supra) that there was no specific allegation with regard to the assessment year 1999-2000 regarding suppression of the sale figures and that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to be protected. Consequently, we are inclined to adopt the approach indicated in National Agricultural Co-operative Marketing Federation of India Ltd. v. Assistant Commissioner of Income Tax Circle 32(1), W.P.(C) 5895/2010 decided on 07.08.2014 wherein we passed the following order:- In these circumstances, we find that as of now, the very basis of initiating the re-assessment proceedings by virtue of the notice dated 02.02.2010 issued under Section 148 of the Income Tax Act, 1961 does not survive. Therefore, we are disposing of this writ petition with liberty to both sides to seek revival in case the need arises. We make it clear that in case it is ultimately held in favour of the revenue, then the revenue shall be entitled to re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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