1997 (7) TMI 99

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..... instance of the assessee arising out of the assessment year 1975-76 seeking opinion of the High Court on the following questions : "(1) Whether, on the facts and in the circumstances of the case, the Inspecting Assistant Commissioner had jurisdiction to raise the gross profit rate to be applied on the estimated sales from 40 per cent. as proposed in the draft assessment order to 50 per cent. in a .....

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..... ower under section 144B, subject to the assessee being heard. We find ourselves in agreement with the view taken as above by the High Court of Karnataka. We are of the opinion that while dealing with a reference under section 144B power to give directions under section 144A can be exercised but subject to compliance with the requirement of the proviso, i.e., affording the assessee an opportunity o .....

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