2006 (11) TMI 184 - HC - Income Tax

Reassessment notice on basis of statement of third party that he was providing bogus/false transactions to assessee - Once sections 147 and 148 are resorted to, the Assessing Officer must first discharge the burden of showing that income has escaped assessment - assessees’ failure to produce person tilling the land on their behalf cannot lead to the conclusion that no agricultural income had been generated by the assessees – notice is invalid