DHIRAJ BHANSALI PARTNER Vs. INCOME-TAX OFFICER

JUDGEMENT

(1.) Heard Mr.Balasubramanian, learned counsel for the petitioner and Mrs.Hema Muralikrishnan, learned Senior Standing Counsel for the respondent.

(2.) The petitioner is on the second round of litigation as regards proceedings for re-assessment under the provisions of the Income-Tax Act, 1961 (in short 'Act') for Assessment Year 2010-11. Pursuant to a return of income filed by the petitioner an intimation under Section 143(1) was passed and the return was not taken up for scrutiny. While this was so, and the petitioner was under the impression that the proceedings for the Assessment Year in question have attained finality, a notice under Section 148 was issued by the respondent on 30.03.2017 which is the last day of the six (6) year period provided for re-assessment under the Act. The petitioner appeared before the Assessing Officer in response to notices for hearing dated 17.04.2017 and 04.08.2017 calling for production of various particulars. An order of re-assessment dated 29.11.2017 came to be passed by the respondent raising a demand of a sum of Rs.1,12,85,704/-.

(3.) The petitioner approached this Court in WP. No.33560 of 2017 praying for the issuance of Writ of a Certiorari quashing the aforesaid order of re-assessment and consequential notice of demand dated 29.11.2017. The writ petition was disposed on 21.12.2017 directing the Assessing Officer to furnish the reasons for re-opening and granting the petitioner fifteen days time to submit his objections thereto, in line with the procedure set out in this case of GKN Driveshafts (India) Ltd v. Income Tax Officer [(2003) 259 ITR 19 (SC)]. The respondent was directed to pass a speaking order and communicate the same within a period of two (2) weeks to the petitioner. The assessment was however not set aside.