Hon'ble Shashi Kant Gupta, J. - (1.) This writ petition has been filed, inter alia, for the following reliefs : "(i) Issue a suitable writ, order or direction for quashing the notice under Section 148of the Income Tax Act dated 10.7.2003 for the assessment year 2000-01. (ii) Issue a suitable writ, order or direction in the nature of writ of mandamus restraining Assessing Officer for taking any further proceeding in pursuance of notice under Section 148."
(2.) Brief facts as enumerated in the writ petition are as follows : The petitioner is a public limited company engaged in the manufacture of Hi-tech engineering equipments and machines especially Honing and Induction Heating Equipments which are used by automobile and other such industries, and has a registered office at C-37, Panki Industrial Area, Kanpur Nagar.
(3.) The petitioner submitted a return of income for the assessment year 2000- 01 disclosing his income of Rs. 34,21,360/-. The return was accompanied by a final balance sheet, profit and loss account and the Tax Audit Report along with other documents. The returns were dully processed under Section 143 (1) (a) of the Income Tax Act (in short "the Act") vide intimation dated 17.1.01 and refund of Rs. 2,77,716/- was granted in favour of the assessee/petitioner. Subsequently, the case of the petitioner was picked up for scrutiny assessment and the Assessing Officer issued questionnaire on 6.2.01 which was dully replied and under Section 143 (3) of the Act vide his order dated 21.3.01 determining the income tax of the assessee at Rs. 37,42,540/- and the refund which was originally granted for an amount of Rs. 2,77,716/- was reduced to Rs. 1,50,403.;