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2003 (9) TMI 47 - HC - Income TaxNotice of reassessment – reason to believe - relevant AY is 1997-98 - It is not in dispute that for the subsequent AY 1998-99 the AO has already determined that the relevant agreements executed by the petitioner were with a view to finance the vehicles and that those were not leasing agreements. That finding of the AO was affirmed by the CIT (Appeals). Feeling aggrieved by the orders of the CIT (Appeals), the petitioner has preferred an appeal before the Income-tax Appellate Tribunal which is pending - In view of the findings recorded by the AO in the case of the assessee for the AY 1998-99, we are clearly of the view that the AO had sufficient reason to believe to issue a notice u/s 148
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