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2011 (2) TMI 509 - HC - Income TaxIssue of notice where income has escaped assessment - Depreciation in respect of the boilers - In the absence of any foundation having been laid in the reasons recorded to indicate any omission on the part of the petitioner in disclosing fully and truly all material facts, the assumption of jurisdiction under section 147 of the Act by issuing notice under section 148 of the Act, is without jurisdiction and as such, the impugned notice cannot be sustained - The impugned notice dated 8-3-2001 issued under section 148 of the Act (Exhibit-M to the petition) is hereby quashed and set aside
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