GODREJ INDUSTRIES LTD. Vs. B.S. SINGH

JUDGEMENT

(1.) This petition under Article 226 of the Constitution of India challenges the notice dated 29 March 2007 issued under Section 148 of the Income Tax Act, 1961 (the 'Act'). The impugned notice seeks to reopen the petitioner's assessment for the Assessment Year 2000-01.

(2.) This petition was admitted on 23 January 2008 and interim relief was granted restraining the respondents from proceeding further with the impugned notice dated 29 March 2007.

(3.) On 30 November 2000, petitioner filed its return of income for the Assessment Year 2000-01. In its return of income, petitioner declared its total income as 'Nil' under the normal provisions of the Act and a book profit of Rs. 52.70 crores. This resulted in Minimum Alternative Tax (MAT) income of Rs. 15.81 crores being 30% of such book profit under Section 115JA of the Act. The return of income filed by the petitioner was scrutinized under Section 143(3) of the Act and by order dated 28 January 2003, income under Section 115JA of the Act was enhanced from 15.81 crores to Rs. 16.82 crores by the Assessing Officer.