https://www.taxtmi.com/caselaws?id=342388 The Court set aside the orders under Section 143(3) and Section 147 of the Income Tax Act, emphasizing the need for a detailed investigation due to discrepancies in property descriptions. It allowed the department to initiate proceedings after serving notices to relevant parties. Regarding penalty proceedings under Section 271(1)(c), the Court highlighted the importance of establishing ownership before taxing the petitioner, considering the possibility of fraud. The impugned orders were overturned, providing space for further proceedings against the property to clarify ownership issues and potential fraud. en-us Thu, 06 Apr 2017 00:00:00 +0530 Wed, 30 Aug 2017 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342388 The Court set aside the orders under Section 143(3) and Section 147 of the Income Tax Act, emphasizing the need for a detailed investigation due to discrepancies in property descriptions. It allowed the department to initiate proceedings after serving notices to relevant parties. Regarding penalty proceedings under Section 271(1)(c), the Court highlighted the importance of establishing ownership before taxing the petitioner, considering the possibility of fraud. The impugned orders were overturned, providing space for further proceedings against the property to clarify ownership issues and potential fraud. Case-Laws Income Tax Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342388