- (1.) The petitioner is a private limited company incorporated on 25.9.1995 in the State of U.P. under the Companies Act, 1956. The company was initially incorporated in the name of 'Cosmos Financial Services Private Limited'. The name of the company was changed as 'Aayushi Stock Brokers Pvt. Ltd.' w.e.f. 15.11.2000. The company has two directors namely Shri Ravindra Kumar Agarwal and Shri Satish Chandra Agarwal. It is alleged that till mid June, 2000 the company's principal place of business was at Agra. On 19.6.2000 the Board of Directors of the Company decided to set up a corporate office at Delhi as its principal place of its business operations. Accordingly in June, 2000 the corporate office was shifted to Delhi. It is alleged that by a special resolution dated 12.6.2002 passed by the shareholders of the company the registered office of the company was also shifted from U.P. to Delhi. The change was approved by the Company Law Board by its order dated 24.1.2003. It is alleged that upto the assessment year 2000-01, the income tax returns were filed at Agra, and the assessments were made at Agra. For the year 2002-03, the return was filed at Delhi.
(2.) By this writ petition the petitioner has prayed for writ of certiorari quashing the assessment order dated 28.3.2005 passed by the Asstt. Commissioner of Income Tax-4 (1), Agra and to quash the letter/ order dated 19.9.2003 issued by the Asstt. Commissioner of Income Tax-4 (1), Agra. The petitioner has also prayed for directions to the respondents to restrain to proceed with penalty proceedings against the petitioner pursuant to the assessment order dated 28.3.2005, for assessment year 2002-03.
(3.) We have heard Shri R.P. Agarwal, learned counsel for the petitioners. Shri Ashok Kumar appears for the Income Tax Department.;