AO justified in initiating reassessment proceedings based on order passed in TP proceedings in earlier A.Y.

HIGH COURT OF KARNATAKA Sysarris Software (P.) Ltd. Vs. Deputy Commissioner of Income Tax, Circle-12(3) Bengaluru AJIT J GUNJAL, J. W.P. NO. 40221 of 2011 (T-IT) MARCH  8, 2012 ORDER 1. The petitioner is questioning the initiation of proceedings under Section 148 of the Income-tax Act, 1961 pursuant to Annexure-A. 2. The matter arises in the following manner: The petitioner claims to be a private limited company incorporated under the provisions of the Companies Act, 1956. It is affiliated to Forma Apps, a company incorporated in United States of America engaged in the busin...