The Commissioner Of Income Tax - 1, Mumbai v. Videsh Sanchar Nigam Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.4235 OF 2010 The Commissioner of Income Tax - 1, Mumbai..Appellant. Versus Videsh Sanchar Nigam Limited..Respondent. Mr.Vimal Gupta for the appellant.Mr.Dinesh Vyas, Senior Advocate with Mr.Ajit Shah i/by Mr.Srihari Iyer for the respondent. CORAM : J.P. Devadhar & A.A. Sayed, JJ. P.C. : DATE : 20[th] July, 2011. 1.Whether the Tribunal was justified in canceling the reopening of the assessment is the question raised in this appeal. 2.The finding of fact recorded by the Income Tax Appellate Tribunal is that in the present case the reasons recorded for reopening of the assessment though repeatedly asked by the assessee were furnished only after completion of the assessment. The Tribunal following the judgment of this Court in the case of CIT V/s. Fomento Resorts & Hotels Limited, Income Tax Appeal No.71 of 2006 decided on 27th November 2006 has held that though the reopening of the assessment is within three years from the end of relevant assessment year, since the reasons recorded for reopening of the assessment were not furnished to the assessee till the completion of assessment, the reassessment order cannot be upheld. Moreover, Special Leave Petition filed by the Revenue against the decision of this Court in the case of Fomento Resorts & Hotels Limited has been dismissed by the Apex Court vide order dated 16th July 2007. 3.In this view of the matter, the present appeal is also dismissed with no order as to costs. (A.A. Sayed, J.) (J.P. Devadhar, J.)