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2004 (3) TMI 28 - PUNJAB AND HARYANA HIGH COURTValidity of the notice u/s 17 - it is not disputed that the Assessing Officer had duly recorded reasons about the escapement of income - The proviso to sub-section (1) of section 17 of the Act provides that before issuing any notice under this section, the Assessing Officer shall record his reasons for doing so. Thus, the only requirement is that the reasons have to be recorded "before" issuing notice under section 17 of the Act. In the present case, this requirement stands duly complied with. We are, therefore, satisfied that the Tribunal was justified in upholding the validity of the reassessment proceedings.
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