Section 147, 148 ::

Last updated: 08 December 2007

Court :
HC

Brief :
Held by the Hon`ble Court that, what should be the correct net profit in the opinion of the A.O. had no relation with the formation of any opinion that assessee failed to disclosed truly and fully material facts necessary for assessment. Therefore notice was liable to be quashed.

Citation :
Yakub Ali Gopal Singh And Party Vs. D.C.I.T. And Anothers

Yakub Ali Gopal Singh And Party Vs. D.C.I.T. And Anothers 12/04/2007 [2007] 295 ITR 129 (Raj) Case Fact: Whether, notice issued u/s 148 on the ground that net profit was not correct is justified in law? Decision: Held by the Hon`ble Court that, what should be the correct net profit in the opinion of the A.O. had no relation with the formation of any opinion that assessee failed to disclosed truly and fully material facts necessary for assessment. Therefore notice was liable to be quashed.