Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (12) TMI 43 - HC - Income TaxNotice of reassessment - The impugned notice was issued in the month of August, 2003, and the petitioner rightly or wrongly filed its returns demanding disclosure of reasons, however, such reason was not communicated. As I have already observed that the assumption of jurisdiction depends upon the existence of the reasons followed by communication thereof to the assessee if the notice is challenged, the Income-tax Officer cannot proceed with the assessment under section 147 of the Act unless reasons are communicated. - Therefore, I direct the officer concerned to communicate the reasons on which he has formed his opinion - The petitioner would be entitled to take further objection and to explain before the officer that the material cannot form rational basis and/or nexus with the formation of belief.
|