SUPREME COURT OF INDIA
Additional Commissioner of Income-tax
Shreyas Gramin Bank
CIVIL APPEAL NO. 4801 OF 2007
SEPTEMBER 12, 2012
Heard learned counsel on both sides.
We have gone through the Notice under Section 154 of the Income Tax Act, 1961 [‘Act’, for short]. We find that the said notice is totally vague. The Assessing Officer has not even indicated as to on what basis he has allowed excess set-off. Notice under Section 154 of the Act, therefore, was not maintainable. The second notice under Section 148 of the Act was issued squarely on the basis of notice under Section 154 of the Act. In the circumstances, the High Court was right in setting aside both the notices. We, therefore, see no reason to interfere with the impugned order.
Accordingly, the civil appeal filed by the Department is dismissed with no order as to costs.