Ghanshyam K. Kharbrani, Thane v. Assistant Commissioner Of Income Tax

Dmt IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 10803 OF 2011 Ghanshyam K. Kharbrani, Thane... Petitioner. versus Assistant Commissioner of Income Tax, Circle 1, Thane & Ors. .. Respondents. ..... Jehangir D. Mistry, Sr. Adv., with Mr. Madhur Agarwal and Mr. Atul K. Jasani for the Petitioner. Mr. Suresh Kumar for the Respondents. ...... CORAM : DR.D.Y.CHANDRACHUD & A. A. SAYED, JJ. 15 DECEMBER 2011. P.C. : In response to a notice issued to the Petitioner under Section 148 of the Income Tax Act, 1981, on 30 March 2011 and the reasons disclosed under a covering letter dated 22 November 2011, the Petitioner submitted objections for reopening of the assessment on 2 December 2011. In terms of the decision of the Supreme Court in GKN Driveshafts (India)Ltd. vs. Income Tax Officer1, we direct the Assessing Officer to dispose of the objections by a reasoned order within a period of four weeks from today. Until then, no steps shall be taken in pursuance of the notice dated 30 March 2011 and in the event that an adverse order is passed, for a further period of four weeks thereafter. The Petition is accordingly disposed of. 2.Since the assessment is liable to become time barred by 31 December 2011, on request of the learned Counsel appearing on behalf of the Revenue, we direct that the assessment proceedings shall remain stayed until the Assessing Officer disposes of the objections and for a period of four weeks thereafter. (Dr. D.Y. Chandrachud, J.) (A. A. Sayed, J.)