GERMAN REMEDIES LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) IN these two writ petitions, the notices issued under Section 148 of the Income Tax Act, 1961 ('act' for short) both dated February 18, 2005 relating to the assessment years 1999-2000 and 2000-2001 are challenged. Even the objections raised by the assessee have been rejected by the assessing officer. Since the reasons for re-opening the assessment are identical, both the petitions are heard and disposed of by a common judgment.

(2.) FOR the sake of convenience, we set out the reasons recorded for re-opening the assessment for a. Y. 1999-2000 which read as follows :

(3.) FOR the assessment year 1999-2000, the return of income was filed on December 29, 1999. On january 31, 2002, the assessment order under Section 143 (3) of the Act was passed determining income at rs. 23,68,07,847/- after making various additions and disallowances.