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2009 (4) TMI 12 - HC - Income Tax
Reassessment proceedings - scope of the expression “reason to believe” in S. 147 - no reasonable person could have come to a conclusion that there was relevant material available with the AO to have reason to believe that assessee’s income chargeable to tax had escaped assessment - proceedings are held as bad in law – further, assessment order which dealt with items other than those which formed the basis of a notice u/s 148(1), are bad in law - impugned re-assessment order is set aside