Alps Industries Ltd. v. Dy. Commissioner of Income-tax, Circle-I - 2017-LL-0810-2

Citation	2017-LL-0810-2
Appellant Name	Alps Industries Ltd.
Respondent Name	Dy. Commissioner of Income-tax, Circle-I
Court	HIGH COURT OF ALLAHABAD
Relevant Act	Income-tax
Date of Order	10/08/2017
Judgment	View Judgment
Keyword Tags	escapement of assessment
Bot Summary:	Heard Sri Vishal Mittal, learned counsel for the petitioner. The petitioner has come up in this petition against the notice dated 30.03.2017 whereby in respect to the assessment year 2010-11, the Deputy Commissioner of Income Tax has opined that certain income of the assessee has escaped assessment and therefore, the income is liable to be recomputed. The petitioner has been supplied with the reasons for the belief that income has escaped assessment vide letter dated 21.06.2017. Against the aforesaid reasons so supplied, the petitioner has a remedy of filing his objections, if any, which the petitioner has already filed on 07.08.2017. In view of the decision of the Supreme Court in GKN Driveshafts Ltd. Vs. ITO others 259 ITR 19, against the reasons supplied for recomputing or reassessing the income of the assessee, he has a remedy of filing objections and once such objections are filed the assessing authority is competent to decide the same by a speaking order. Accordingly, as the objections of the petitioner are pending, we do not deem it fit to interfere in the matter at this stage and leaves it is open the assessing authority to consider and decide the objections in accordance with the decision of the Supreme Court referred to above most expeditiously. The petitioner may draw appropriate proceedings thereafter.

Court No. - 3 Case :- WRIT TAX No. - 540 of 2017 Petitioner :- M/S Alps Industries Ltd. Thru' Its Director Respondent :- Dy. Commissioner Of Income Tax, Circle-I Counsel for Petitioner :- Sanjeev Kumar Tyagi,Vishal Mittal Counsel for Respondent :- Bharat Ji Agrawal/Sc I.T. Hon'ble Pankaj Mithal,J. Hon'ble Umesh Chandra Tripathi,J. This is petition actually filed on behalf of M/s Amrit Steels Pvt. Ltd. through its Director and not by M/s Alps Industries Ltd. petitioner in main petition at one place has wrongly mentioned name of petitioner as M/s Alps Industries Ltd. Sri Vishal Mittal, learned counsel for petitioner accepts that it is mistake and that petition is on behalf of M/s Amrit Steels Pvt. Ltd. In view of above, office is directed to register this writ petition in name of M/s Amrit Steels Pvt. Ltd. through its Director and necessary correction in cause title may be made by Computer Section accordingly. Heard Sri Vishal Mittal, learned counsel for petitioner. Sri Gaurav Mahajan, learned counsel has appeared for respondent. petitioner has come up in this petition against notice dated 30.03.2017 whereby in respect to assessment year 2010-11, Deputy Commissioner of Income Tax has opined that certain income of assessee has escaped assessment and therefore, income is liable to be recomputed. petitioner has been supplied with reasons for belief that income has escaped assessment vide letter dated 21.06.2017. Against aforesaid reasons so supplied, petitioner has remedy of filing his objections, if any, which petitioner has already filed on 07.08.2017. In view of decision of Supreme Court in GKN Driveshafts (India) Ltd. Vs. ITO & others (2003) 259 ITR 19 (SC), against reasons supplied for recomputing or reassessing income of assessee, he has remedy of filing objections and once such objections are filed assessing authority is competent to decide same by speaking order. Accordingly, as objections of petitioner are pending, we do not deem it fit to interfere in matter at this stage and leaves it is open assessing authority to consider and decide objections in accordance with decision of Supreme Court referred to above most expeditiously. petitioner may draw appropriate proceedings thereafter. petition stand disposed of. Order Date :- 10.8.2017 piyush Alps Industries Ltd. v. Dy. Commissioner of Income-tax, Circle-I

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