TMI Blog1999 (8) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... purported exercise of power under section 148 read with section 147 of the Income-tax Act, 1961, the present writ petition was filed in the year 1988. Further proceedings pursuant to the notice were stayed by this court. The undisputed facts are that on July 2, 1982, a search was conducted by the Department. Pursuant to a notice under section 148, a return was filed in the year 1983-84 showing t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order has become final. On February 19, 1988, the respondent passed an order determining the taxable income at Rs. 15,11,370. A month later, the successor Assessing Officer has issued the impugned notice under section 148 of the Act. No counter is filed on behalf of the Department. However, learned standing counsel sought adjournment and after seeking adjournment produced the relevant file whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the proposed reassessment is in negation of the principle of finality of the decision of the Tribunal and the implied bar against the initiation of reassessment proceedings on the same set of facts twice over. The respondent over-stepped his jurisdiction in seeking to make a reassessment as if nothing had happened earlier pursuant to the material seized during the search operations. It is no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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