HIGH COURT OF MADRAS
Hon`ble Mr Justice C. SARAVANAN
M/s. Lucas TVS Ltd. – Appellant
Versus
The Assistant Commissioner o – Respondent
O R D E R
The petitioner is aggrieved by the impugned assessment order dated 31.12.2019 passed by the Assessing Officer, the respondent herein under section 143(3) read with section 147 of the Income Tax Act, 1961.
2.The impugned order has a re-determined the taxable income of the petitioner as Rs.62,93,86,042/. Although, the impugned order is an appealable order, the petitioner has filed this Writ Petition.
3.The petitioner had earlier filed a Return of Income for the assessment year 2012-13 under section 139 of the Income Tax Act, 1961 on 28.09.2012. In the said Return of Income, the petitioner had declared a taxable income of Rs.56,13,25,680/-.
4.The Assessing Officer vide scrutiny Assessment Order dated
31.03.2015 under section 143 (3) of the Income Tax Act, 1961, re- determined taxable income of the petitioner as Rs.56,66,13,640/-.
5.In the aforesaid assessment order dated 31.03.2015, the gross tax payable by the petitioner was determined as Rs.16,99,84,092/-. After adjusting the payments already made by the petitioner, the net tax payable by the petitioner was quantified as Rs.34,66,540/- in the computation which accompanied the scrutiny assessment order dated
31.03.2015.
6.In the a
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