H K BUILDCON LTD Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) Considering the scope of the controversy, the petition is taken up for final hearing and disposal today. Rule. Learned advocate appearing for the respondent is directed to waive service of rule.

(2.) This petition has been preferred challenging validity of notice dated 24th September 2009 issued under section 148 of the Income Tax Act, 1961 (the Act) (Annexure "A") as well as re-assessment order dated 21st December 2009 framed under section 144 read with section 147 of the Act for assessment year 2005-06.

(3.) Upon issuance of notice, respondent put in appearance and has tendered affidavit in-reply dated 29th March 2010. On 5th April 2010, when the matter came up for hearing, following order came to be made by the Court: