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TMI Blog2015 (10) TMI 1087X X X X Extracts X X X X X X X X Extracts X X X X ..... all redress his grievance in accordance with law. Writ petition is disposed of and the petitioner is directed to file necessary returns and thereafter claim necessary particulars from the assessing authority giving adequate reasons within the reasonable time. Upon receipt of such reasoning the petitioner shall file necessary objections and thereafter the assessing authority shall proceed in acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the above, the petitioner owned tankers for transporting kerosene from Mangalore and Chennai and the petitioner also derived income from the above tankers by way of hire charges. Besides the above, the petitioner purchased certain feature films and derived income by utilizing the same. The income from all such business were reported in the returns by the petitioner. For the assessment year 1996-97 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 148 of the Act in respect of the assessment year 1996-97 assuming jurisdiction again in terms of Section 147 of the Act calling for the return of income in order to reassess the income for the said assessment year. It is the said notice now under challenge in this writ petition. 3. Heard both sides and also perused the records carefully. 4. Challenge in this writ petition is to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rial facts in the absence of such grounds, the jurisdiction vested with the authority under Sections 147 as well as 148 of the Income Tax Act are questionable. Hence, the petitioner is before this court. 6. The learned senior standing counsel appearing for the respondent would, on the other hand, submit that writ petition itself is premature in nature. For proceeding with reassessment within th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disposed of and the petitioner is directed to file necessary returns and thereafter claim necessary particulars from the assessing authority giving adequate reasons within the reasonable time. Upon receipt of such reasoning the petitioner shall file necessary objections and thereafter the assessing authority shall proceed in accordance with law and pass appropriate orders of assessment. Once an o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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