ORISSA CEMENT LTD Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE challenge in this writ petition is to the validity of the notice, dated March 30, 1978, issued to the petitioner under Section 147/148 of the Income -tax Act, 1961 (for short 'the Act'), proposing to reopen assessment for the assessment year 1973 -74.

(2.) TO appreciate the controversy involved, it would be necessary to notice the background facts, which are as follows :

(3.) THE appeal filed by the petitioner before the Tribunal was disposed of on March 15, 1980, whereby the order passed by the Commissioner was set aside. While allowing the petitioner's appeal, the Tribunal held as follows :