M/S. INDUSIND MEDIA AND COMMUNICATIONS LTD vs THE ASSISTANT COMMISSIONER OF INCOME TAX 11(1)

902.WP-649.13(J).DOCX ppn IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION 400093. …Petitioner Versus The Assistant Commissioner of Income Tax 11(1) Aayakar Bhavan, M.K.Road, Mumbai-400020. …Respondent ______________________________________________________ Mr Mihir Naniwadekar a/w Ruturaj Gurjar, for Petitioner. Mr Suresh Kumar, for Respondent. ______________________________________________________ CORAM: M.S. Sonak & Jitendra Jain, JJ. DATE : 20 February 2025 JUDGMENT (Per Jitendra Jain, J.):- 1. This petition, under Article 226 of the Constitution of India, challenges a notice under Section 148 of the Income Tax Act, 1961 (‘the Act’) dated 30 March 2012 for assessment year 2007-08. Rule and interim relief were granted on 23 June 2014. Brief Facts : - 2. The petitioner filed its return of income on 29 October 2007, which return was revised on 31 March 2009. In the revised computation of income, the petitioner claimed as 902.WP-649.13(J).DOCX deduction an amount of Rs.69,88,37,464/- being Inventories, Sundry Debtors, Loans & Advances and Cost of Set Top Boxes written off against the Share Premium pursuant to amalgamation scheme approved by the High Cou