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2006 (8) TMI 139 - HC - Income TaxNotice u/s 148 – Search - Instead of initiating the proceedings i/s 158BC Assistant Commissioner initiated proceedings for reassessment u/s 148 - notice u/s 148 is under challenge on various grounds, inter alia, that the proceeding u/s 148 is not meant for a roving and fishing enquiry and the assessing authority had no jurisdiction to reopen the assessment in respect of different firms to iron out the actual alleged suppression of income as he had disclosed its income truly and faithfully at the time of furnishing the return – petitioner contend that as the books of account and other documents have been requisitioned u/s 132A from the Central Excise Department, the assessment of undisclosed income can only be made u/s 158BC - held that proceedings initiated u/s 148 cannot be said to be without jurisdiction. However, we make it clear that in the proceedings for reassessment u/s 148, material or evidence which is relatable to the documents for which the requisition has been sent u/s 132A cannot be taken into consideration.
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