ALLANASONS LTD. Vs. DEPUTY COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The petition under article 226 of the Constitution of India, assails the notice dated January 10, 2005, issued under section 148 of the Income-tax Act, 1961 ("the Act"). By the impugned notice dated January 10, 2005, the Assessing Officer has sought to reopen the assessment for the assessment year 1998-99. The relevant facts necessary for disposing of the petition are as under:

(2.) It is this notice dated January 10, 2005, and the consequent order dated February 28, 2005, rejecting the petitioner's objections to reopening of the assessment for the assessment year 1998-99 which is challenged in this petition. This petition was admitted on April 19, 2005, and the Revenue was restrained by an interim order from acting on the impugned notice dated January 10, 2005.

(3.) Mr. Jain, learned counsel appearing in support of the petition, submits that: