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2004 (10) TMI 49 - HC - Income Tax"Whether Tribunal was right in law in holding that the proceedings under section 148 were not validly initiated?" - Tribunal held that the notice under section 148 of the Act was issued before recording the reasons under section 148(2) and, therefore, initiation of proceedings under section 148 and the assessment made in pursuance thereof were bad in law. Learned counsel appearing for the Revenue, however, could not point out with reference to any material on the record to show that the Tribunal had erred in recording the aforesaid finding. - In view of the above, the question as referred by the Tribunal is answered in the affirmative i.e., in favour of the assessee and against the Revenue.
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