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2001 (11) TMI 28 - HC - Income TaxReassessment, Amalgamations Of Companies - In this petition under article 226 of the Constitution, the petitioner-company, which is engaged in the business of financing and trading in shares, has challenged the notice, issued by the Additional Commissioner of Income-tax, Special Range-1, Surat, under section 148, stating that the said officer had reason to believe that the income chargeable to tax for the assessment year 1994-95 has escaped assessment within the meaning of section 147 of the Act and, therefore, the petitioner has been called upon to file a return of the petitioner's income for the said assessment year. The notice further states that the same has been issued after obtaining necessary satisfaction of the Commissioner of Income-tax, Surat. - the petition is summarily rejected, notice is discharged.
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