1987 (1) TMI 16 - HC - Income Tax

Summary

The High Court of Bombay upheld the initiation of income tax reassessment proceedings based on notices issued by the Income-tax Officer under section 148 of the Income-tax Act. The court rejected the argument that there was ambiguity in the notices, stating that the notices were clear and the assessee had filed returns accordingly. The Tribunal's decision to set aside the notices was overturned, and the court ruled in favor of the Revenue. The Tribunal was directed to consider other grounds raised by both parties.