https://www.taxtmi.com/caselaws?id=9130 The High Court of Calcutta upheld the validity of a notice issued under section 148 of the Income-tax Act, 1961 for the assessment year 1960-61. The court found that the Income-tax Officer had sufficient reasons to suspect income escapement by the firm, based on discrepancies in hundi loans and interest payments. Emphasizing the importance of meeting jurisdictional requirements, the court dismissed the appeal, affirming that the conditions precedent for initiating proceedings under section 148 were met in this case. The judgment was delivered by Amiya Kumar Mookerji J., with agreement from Amarendra Roy J., and the appeal was dismissed with no order as to costs. en-us Mon, 13 Aug 1973 00:00:00 +0530 Fri, 19 Jun 2009 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9130 The High Court of Calcutta upheld the validity of a notice issued under section 148 of the Income-tax Act, 1961 for the assessment year 1960-61. The court found that the Income-tax Officer had sufficient reasons to suspect income escapement by the firm, based on discrepancies in hundi loans and interest payments. Emphasizing the importance of meeting jurisdictional requirements, the court dismissed the appeal, affirming that the conditions precedent for initiating proceedings under section 148 were met in this case. The judgment was delivered by Amiya Kumar Mookerji J., with agreement from Amarendra Roy J., and the appeal was dismissed with no order as to costs. Case-Laws Income Tax Mon, 13 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9130