This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Creditworthiness of Lender not proved: Section 148A(d) order valid
Case Law Details
- Case Name
- Indus Technical Education Society Vs Union of India (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Allahabad High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Indus Technical Education Society Vs Union of India (Allahabad High Court)
So far as unsecured loan of Rs. 28,53,439/ is concerned, the petitioner could not submit any credible evidence alongwith its reply to establish credit worthiness of the lender i.e. M/s Arrow Netmart Pvt. Ltd. Therefore, prima facie, the Assessing Authority had some relevant material before him to assume jurisdiction for initiating re-assessment proceedings under Section 147/148 of the Act, 1961. Thus, since the Assessing Authority has some relevant material in his hands, therefore, the impugned order under Section 148A(...
