S. 147 Objections of assessee cannot be disposed off on an Imaginary Ground

Shivali Bardoliya Brief of the Case: In was held by High Court of Bombay and Goa in the case of M/s V M Salgaoncar Sale International V/s ACIT, that objections raised by the assessee against the reasons recorded U/s 148 of the Act can not be disposed off on an imaginary ground by the assessing Officer. Facts of the Case: This assessee challenges the notice dated 28/10/2014 issued under section 148 of the Act on the following grounds: Under invoicing of the exports Income arising out of mining is an illegal income The assessee by letter dated 09/02/2015 objected to the reasons recorded in t...