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2010 (3) TMI 798 - AT - Income TaxWhether the proceedings initiated by the AO under s. 147 of the Act for asst. yr. 2002-03, vide notice issued under s. 148, dt. 9th June, 2004, was valid? - Reference to third member - Held that:- In the present case the notice under s. 148 was issued before the expiry of the time available for issuing notice under s. 143(2), whereas in the case of Rajesh Jhaveri Stock Brokers (P) Ltd. (2007 -TMI - 6563 - SUPREME Court) the notice under s. 148 was issued after the expiry of the time available for issuing notice under s. 143(2). - The decision in the case of Qatalys Software (2008 -TMI - 32194 - MADRAS HIGH COURT) is in consonance with all the Supreme Court judgments on the issue including the one in the case of Rajesh Jhaveri (2007 -TMI - 6563 - SUPREME Court). - notice issued by the AO under s. 148 for asst. yr. 2002-03 quashed. - Decided in favor of assessee.
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