T.K.SALIM Vs. UNION OF INDIA

JUDGEMENT

(1.) The present two writ petitions have been filed by the very same petitioner, an assessee under the provisions of the Income Tax Act, 1961 and the Rules made thereunder, impugning the fresh assessment orders, Exts.P9 and P12, passed on reopening of the earlier assessment orders and penalty notices, Exts.P10 and P13, in respect of the assessment years 2013-14 and 2014-15, respectively.

(2.) The petitioner is the proprietor of M/s.Greenland Condiments. The petitioner deals in spices and condiments. He is also a partner in several firms and drawing income from those firms. He is also the Managing Director of a limited Company named 'Greenland Particle Boards Pvt. Ltd.', which is involved in the business of manufacture of products of wood, cork, straw and plaiting materials. The petitioner filed returns of his income for the assessment years 2013-14 and 2014-15 on 28/1/2014 and on 31/3/2015 returning income of Rs.60,20,910.00 and Rs.42,35,870.00, respectively. The assessments in respect of both the assessment years got completed under Sec. 143(3) of the Income Tax Act, 1961 ('Act', for short) on 23/3/2016 and 30/6/2016, respectively.

(3.) Subsequently, with respect to the assessment year 2014-15, the case was re-opened under Sec. 147 and assessment was completed on 18/6/2019 assessing the income at Rs.50,74,280.00.