K C PRIVATE LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) : These four writ petitions are filed by K.C.P. Ltd. against notices issued under S. 148 of the I. T. Act proposing to reopen the assessments in respect of certain years. Since the facts in each case are different, we would deal with each of the writ petitions separately. W. P. No. 6247 of 1979 :

(2.) THE notice challenged in this writ petition is dated March 29, 1979, issued after obtaining the necessary satisfaction of the CIT. By this notice, the ITO, Central Circle, Vijayawada, proposed to reassess the depreciation allowance and certain other items in respect of the asst. yr. 1970-71. THE accounting year of the petitioner commences with the 1st of July and ends with the 30th of June in the following year. THE petitioner has questioned the notice on the following grounds--(i) that the ITO has failed to record the reasons, as required by S. 148(2) of the Act, and that, therefore, the approval accorded by the CIT is vitiated. THE approval has been accorded mechanically and without applying the mind to the relevant facts and circumstances of the case, and (ii) that what is sought to be done is merely to review the orders of assessment passed earlier. THEre is no allegation that any income has escaped assessment on account of non- disclosure of any material fact on the part of the assessee. THE error, if any, was on the part of the assessing authority.

(3.) LEARNED standing counsel for the Department, Sri M. S. N. Murthy, has placed the reasons recorded by the ITO before us. It would be appropriate to extract the same in full :