Law:

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Section 143 of the Income-tax Act, 1961 - Assessment - General - Assessment year 2005-06 - Whether any information coming into possession of department before assessment is complete, can very well be used even during proceedings of regular assessment under section 143 - Held, yes - Whether therefore, petitioner's contention, that in case anything had been found by department during course of survey after previous year was already over, same could be used in proceedings under section 147/148 and not during course of regular assessment, was patently misconceived - Held, yes JUDGMENT Rajesh Bindal, J. - Petitioner has approached this Court praying for issuance of a writ of Certiorari seeking quashing of assessment proceedings for the assessment year 2005-06. 2. Briefly the facts are that petitioner is a private limited company carrying on its business in the manufacture and export of Atam brand gun metal, bronze, brass, S.S.C.L.C.S. forged steel valves, cocks boiler mountings. A survey under section 133A of the Income-tax Act, 1961 (for short 'the Act') was carried out at the business premises of the company on 27-9-2005. During the course of survey, certain books of account and documents were impounded. The income-tax return for the assessment year 2005-06 corresponding to previous year ending on 31-3-2005 was filed by the petitioner on 17-8-2005. After filing of the return, the petitioner was issued a notice under section 143(2) of the Act on 26-12-2005 for clarification of certain points in connection with the return of income. The contention of the petitioner is that case of the petitioner has wrongly been selected for scrutiny, which is in violation of instructions for selection of cases as contained in Annexure P-11, which provides certain guidelines for selection of cases for scrutiny during the financial year 2005-06. The instructions, inter alia, provide that cases where survey has been conducted shall be compulsorily scrutinised. We do not find any merit in this contention of the petitioner that the survey having been conducted after the close of the previous year, the assessment for that year could not be taken up for scrutiny. There is no such bar…

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