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2004 (8) TMI 86 - HC - Income Tax
Notice u/s 148 - The formation of the required opinion and belief by the Assessing Officer is a condition precedent. Without such formation, he will not have jurisdiction to initiate proceedings under section 147. The fulfilment of this condition is not a mere formality but it is mandatory. The failure to fulfil that condition would vitiate the entire proceedings - Thus, it is well settled that the "reason to believe" under section 147 must be held in good faith and should have a rational connection and relevant bearing on the formation of the belief and should not be extraneous or irrelevant. – Hence, notice issued under section 148 and the entire proceedings taken pursuant thereto are wholly without jurisdiction and hereby quashed.