9911796707
TMI Blog2024 (9) TMI 1336X X X X Extracts X X X X X X X X Extracts X X X X ..... income has escaped assessment and the same was established on the intimation received from the Investigation wing, Mumbai and there was no return in hand for the relevant assessment year to cross-check the facts. This is untenable. The reason is apparent. It is relevant to note that the company had already filed its returns in the year 2010 and it was also brought to the notice of the department about the one-time settlement. However, the same was not noticed and the officer concerned concluded that there was no return to cross-check. Absolutely, there is no application of mind by the officer concerned in dealing with the objections and reopening the assessment. The reasons recorded for reopening of assessment are without application of mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ification request on 05.08.2011 which was processed on 17.08.2011. The petitioner filed another rectification request on 09.04.2014 which was processed on 21.04.2014. As the matter stood thus, the petitioner received a notice under Section 148 of the Act dated 30.03.2017 by post on 07.04.2017 issued by the Income Tax Officer Ward-1(3), Belagavi. The petitioner received another notice under Section 148 of the Act dated 31.03.2017 through email on 31.03.2017 issued by the Income Tax Officer, Ward 1(2), Belagavi. The petitioner received another notice under Section 148 of the Act dated 31.03.2017 through email on 01.04.2017 issued by the Income Tax Officer, Ward 1(2), Belagavi. The petitioner filed a letter on 25.04.2017 to the first responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a mandatory condition to invoke the provisions of Section 147 read with Section 148 of the Act. A further submission is made that there is no income escaping and hence the entire proceedings are bad in law. Learned senior counsel vehemently contended that the reasons recorded for reopening of assessment are based on borrowed satisfaction which is impermissible in law. Lastly, he submitted that the writ petition may be allowed. Sri. M. Thirumalesh., learned counsel for the respondents submits that the Writ Petition is not maintainable as the petitioner has an alternate substantive remedy under the Act. Next, he submits that there are multiple questions of facts involved and the same cannot be decided in extraordinary jurisdiction. He subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad undergone a onetime settlement (OTS) with the Central Bank of India and it had not filed the returns. Without prejudice to other contentions, the company replied to the notices and filed objections. The true copy of the objections that were filed by the company is furnished along with the Writ Petition and the same is marked as Annexure-G. A careful perusal of the same would reveal that the Company brought to the notice of the officer concerned about the filing of the returns in the year 2010 i.e., on 08.10.2010 and about the One Time Settlement. However, the officer concerned without application of mind, disposed of the objections concluding that there are reasons to believe that income has escaped assessment and the same was establishe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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