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2013 (7) TMI 476 - GUJARAT HIGH COURTReopening of assessment u/s 148 - the assessment for the year 2005-06 is sought to be reopened by a notice dated 25.09.2009 issued u/s 148 – the material on which the AO has formed the belief as regards escapement of income is the on the date of reopening of the assessment for the year under consideration was set aside by the Commissioner (Appeals) and as such had no existence in the eyes of law - the belief cannot be said to be a bona fide belief nor can the material on which the belief is based be said to have a live link for the formation of requisite belief - reopening of assessment without formation of the requisite belief as regards escapement of income is without jurisdiction and as such the notice u/s 148 as well as any proceedings taken pursuant thereto cannot be sustained be sustained – notice set aside – petition allowed infavour of assessee.
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