JAGSON INTERNATIONAL LTD Vs. CIT

JUDGEMENT

(1.) Jagson International Limited prays for issuance of a writ of certiorari and quashing of the notice dated 20.2.1997 issued under Section 148 of the Income Tax Act, 1961 (Act, for short). The said notice pertains to the assessment year 1989-90. At the outset, we record that we are not required to resort to the procedure prescribed by the Supreme Court in DCIT v. G.K.N. Driveshafts India Limited, (2003) 259 ITR 19 (SC) because in the present case the Assessing Officer has passed the re-assessment order, impugning which the petitioner has succeeded before the tribunal and the addition made in the re-assessment order has been deleted on merits. The revenue has filed ITA No. 753/2011 against the said decision of the tribunal.

(2.) The question and issue raised in the present writ petition pertains to whether or not jurisdictional pre-conditions mentioned in Section 147 of the Act are satisfied in the present case.

(3.) The reasons to believe recorded by the Assessing Officer on 20.2.1997 read as under: