RHYTHM CHEMICALS (P.) LTD. Vs. ASSTT. CIT

JUDGEMENT

(1.) DRAFT amendment is allowed.

(2.) PETITIONER has challenged notice dated 30 -3 -2012 issued by Deputy Commissioner proposing to assess income of the petitioner assessee for the assessment year 2005 -06 stating that he had reason to believe that income chargeable to tax for the said year had escaped assessment. The petitioner applied on 17 -4 -2012 to the Deputy Commissioner seeking a copy of the reasons recorded by him for the purpose of issuing the impugned notices. Under communication dated 26 -11 -2012 such reasons were supplied to the petitioner, which read as under: -

(3.) AT the outset, we may record that the assessment for the assessment year 2005 -06 was not done after scrutiny as provided under section 143(3) of the Income Tax Act, 1961 and that the return filed by the petitioner came to be accepted under section 143(1) of the Act. In the background of such admitted facts, we need to examine the challenge of the petitioner to the impugned notice.