https://www.taxtmi.com/caselaws?id=251874 The court found that the notice issued under Section 148 of the Income Tax Act was invalid as it did not meet the mandatory requirements, including the absence of reasons indicating that the escaped income was likely to be Rs. 1 lakh or more. Consequently, the court quashed the notice and all subsequent proceedings, ruling in favor of the petitioner and ordering each party to bear their own costs. en-us Fri, 26 Sep 2014 00:00:00 +0530 Fri, 08 May 2015 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251874 The court found that the notice issued under Section 148 of the Income Tax Act was invalid as it did not meet the mandatory requirements, including the absence of reasons indicating that the escaped income was likely to be Rs. 1 lakh or more. Consequently, the court quashed the notice and all subsequent proceedings, ruling in favor of the petitioner and ordering each party to bear their own costs. Case-Laws Income Tax Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251874