BALAR EXPORTS Vs. DEPUTY COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The petitioner assessee, a partnership firm is engaged in the business of export of diamonds. In the present petition, the assessee has challenged a notice dated 29-3-2010 issued by the respondent Deputy Commissioner of Income-tax under section 148 of the Income-tax Act, 1961 (hereinafter referred to as "the Act") stating that he has reason to believe that income of the assessee chargeable to tax for the assessment year 2003-04 has escaped assessment within the meaning of section 147 of the Act. The assessee was, therefore, required to file a return of income for the said year.

(2.) Briefly stated the facts are as follows:-

(3.) The assessee, therefore, has approached this Court in the present petition challenging such reopening of the assessment. We may notice that by the time the assessee approached the Court, it appears that draft assessment order was already passed. However, the Division Bench of this Court by order dated 23-12-2010 restrained the respondent from proceeding further pursuant to impugned letter dated 29-3-2010. No final order of assessment has been passed.