IN RE: SEPCOIII ELECTRIC POWER CONSTRUCTION CORPORATION Vs. STATE

JUDGEMENT

(1.) THIS application filed by the applicant SEPCOIII Electric Power Construction Corporation under Section 245Q(1) of Income -tax Act has come up for hearing under Section 245R(2) of the Act in the light of the objection filed by the Revenue to the allowing of the application or admitting of the application for a ruling.

(2.) BOTH sides were heard.

(3.) MEANWHILE , for the assessment year 2007 -08, a notice under Section 148 of the Act had been issued to the applicant on 20.7.2010. Regarding the assessment year 2008 -09 a notice under Section 143(2) of the Act was served on the applicant on 14.7.2010. Yet another notice dated 24.8.2010 under Section 143(2) of the Act was served on the applicant concerning the assessment year 2009 -10. Thus proceedings for assessment concerning the years 2007 -08 to 2009 -10 were pending before the concerned assessing officer.