PIRAMAL HEALTHCARE LTD. Vs. ADDL. CIT

JUDGEMENT

(1.) RESPONDENT No. 2 is the Union of India. The petitioner inter -alia seeks a writ of certiorari quashing an assessment order dated 29.2.2012 passed under section of the Income Tax Act, 1961 in so far as it varies a draft assessment order dated 29.12.2011 passed under section read with section and makes additions and disallowances not made in the draft assessment order, a notice of demand dated 29.2.2012 issued under section pursuant to the impugned assessment order and an order dated 19.3.2012 rejecting the petitioners request for a stay of recovery proceedings. Although this Writ Petition is maintainable, we are of the view that the petitioner ought, in the facts of this case, to pursue its alternate remedy which it has already availed of by filing an appeal before the Commissioner of Income Tax (Appeals), albeit without prejudice to this petition. We have, therefore, expressed no opinion on the merits of the matter.

(2.) THE petitioners case admittedly falls within the provisions of section of the Act, which at the material time, read as under:

(3.) THE proceedings in which the impugned orders have been passed relate to the assessment year 2008 -2009. In respect of the AY 2007 -2008, the petitioner had inter -alia claimed a deduction under section of the Act in an amount of Rs. 114,53,66,695 in respect of the profits of its units situated at Baddi. The case was taken up for scrutiny and after a detailed enquiry, respondent No. 1 passed an assessment order dated 18.12.2003 under section and allowed the deduction as claimed by the petitioner in its return of income.