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2008 (10) TMI 565 - HC - Income TaxIncome escaping assessment – non issuance of notice u/s 148 – remedy under section 292BB – held that:- The service of notice is a pre-condition for framing an assessment order under section 147. The learned counsel for the appellant sought to place reliance on the provisions of section 292BB of the said Act which has been introduced with effect from 1-4-2008. However, we feel that no reliance on that provision can be placed for two reasons. The first reason being that the said provision is not applicable to the assessment year 2001-02. The second reason being that this argument was not at all being raised before the Tribunal. – Decided against the revenue.
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