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2013 (10) TMI 1183 - HC - Income TaxReasons to be recorded for issuance of notice u/s 148 of the Income Tax Act – Income of the Trust belongs to the Assessee or not – Held that:- Trust was assessed for the year 1980-81 to 1983-84 and in respect of which assessment were set aside and were thereafter restored against which an application for reference was rejected. The additions, if any, could have been made in the hands of the Trust by way of rectification. The material available with the Income Tax Officer was not sufficient for initiating action under Section 148 on the ground that income of the assessee has escaped assessment. There was no findings in the case of the Trust that same was not genuine and that income belongs to the assessee - Income Tax Officer could not have assessed income in the hands of the assessee unless the Trust, which was assessed to which income was not found to be genuine. Once the Trust was assessed and that the order setting aside the assessment was restored and the application was also dismissed, the income could not have been assessed in the hands of the assessee and in this regard notice, which did not spell out whether it was issued under Section 147 (a) or 147 (a) (b) was not valid – Decided against the Revenue.
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