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Reopening Notice is without jurisdiction if it do not specify quantum of tax which escaped assessment
Case Law Details
- Case Name
- Dulraj U. Jain Vs ACIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Dulraj U. Jain Vs ACIT (Bombay High Court)
Section 147 / Section 148– Reasons recorded do not specify, prima-facie, the quantum of tax which has escaped assessment but merely states that it would be atleast be Rs.1,00,000/-. Prima-facie, we are of the view that the reasons recorded do not indicate reasonable belief of the Assessing Officer himself to issue the impugned notice. Thus, prima-facie, the impugned notice is without jurisdiction.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
1. Heard. Rule.
2. This petition challenges notice dated 31st March, 2017 issued under Section 14...
MANY SUCH 148 NOTICES STATING VALUE OFTRANSACTION PURCHASE /SALES/BOTH OF ALLEGED PENNY SHARE BUT NOT QUANTIFYING
ESCAPED INCOME-BUT WAIT FOR FINAL DISPOSAL
In such a case should assessee ignore the notice, or needs to send any response?