SURYAKRUPA CONSTRUCTIONS PVT. LTD. (FORMERLY KNOWN AS SURYAKRUPA FARMS AND CONSTRUCTIONS PVT. LTD.) vs DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7 (3) AND 2 OTHERS

Judgment text excerpt

2025:BHC-OS:6973-DB Sayyed 2-WP.2545.2016.(j).docx IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.2545 OF 2016 Macrotech Developers Limited (Successor to Suryakrupa Construction Private Limited) A Company registered under the Companies Act, 1956 having its registered office at 412, Floor-4, 17G, Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai, Maharashtra – 400 001. ...Petitioner Versus 1. Deputy Commissioner of Income Tax, Central Circle-7(3) Room No.655, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai – 400 020. 2. The Commissioner of Income Tax Central (IV), 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai – 400 020. 3. Union of India through the Secretary, Department of Revenue, Govt. of India, North Block, New Delhi – 110 001. ...Respondents _____________________________________________________ Mr. Prakash Shah, Senior Advocate (through V.C.) a/w Mr. Jas Sanghavi for the Petitioner. Mr. Suresh Kumar for the Respondents. _____________________________________________________ CORAM : M. S. Sonak & Jitendra Jain, JJ. RESERVED ON : 21 April 2025 PRONOUNCED ON : 25 April 2025 JUDGMENT (Per Jitendra Jain J):- 1. Rule was granted in this matter on 30 November 2016 and the impugned proceedings were stayed. Page 1 of 28 Sayyed 2-WP.2545.2016.(j).docx 2. This petition challenges the re-assessment notice under Section 148 of the Income Tax Act, 1961 (the Act), dated 30 March 2016, seeking to reopen the assessment for the assessment year (AY) 2009-2010, and the order dated 28 September 2016 rejecting the objection. Brief Facts:- 3. The Petitioner is engaged in the business of real estate development in and around the Mumbai Metropolitan Region. Proceedings under Section 143(3):- 4. For the AY 2009-2010, the Petiti