Section 147, 148 ::

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.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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