2019 (8) TMI 995

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... an agreed position between the parties that the issue raised herein stands concluded by the decision of this Court in case of K. Sudhakar S. Shanbhag Vs. Income Tax Officer [ 1999 (8) TMI 36 - BOMBAY HIGH COURT] in favour of the respondent. In the above case, this Court has held that dropping of re-assessment proceedings by the Assessing Officer under Section 147 of the Act, even in the abse .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ped the assessment proceedings initiated under Section 147 of the Act. 2. It is the grievance of the petitionmer that once the Assessing Officer has issued a notice for reassessment under Section 147/148 of the Act and the assessee has not opposed the same, then it is not open to the Assessing Officer to drop the same. This dropping of proceedings, the petitioner submits is not permissibl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... come Tax Vs. Vali Brothers, (2005) 149 Taxmann 233 (All.) where a different view is taken in a Reference from the Tribunal. In the above case, the Court while upholding the view of the Tribunal, held that once a return has been filed pursuant to a notice under Section 147/148 of the Act, then even if the proceedings are dropped, yet the assessee is entitled to refund of tax paid in terms of Sect .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X