https://www.taxtmi.com/caselaws?id=11243 The court held that the notice issued under section 148 of the Income-tax Act was invalid due to the lack of nexus between the Assessing Officer's satisfaction and the alleged escaped income. Serious allegations against the Assessing Officer were deemed unsubstantiated after a discreet inquiry by the Chief Commissioner of Income-tax. The court found the Assessing Officer's satisfaction regarding the likelihood of significant escaped income inadequate, leading to the quashing of the notice. The higher authorities were criticized for mechanically granting sanction without proper consideration, resulting in the flawed issuance of the notice. The court imposed costs on the Assessing Officer and the sanctioning officer, absolving the State Exchequer from bearing the burden. en-us Tue, 11 Mar 2003 00:00:00 +0530 Mon, 03 Aug 2009 09:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11243 The court held that the notice issued under section 148 of the Income-tax Act was invalid due to the lack of nexus between the Assessing Officer's satisfaction and the alleged escaped income. Serious allegations against the Assessing Officer were deemed unsubstantiated after a discreet inquiry by the Chief Commissioner of Income-tax. The court found the Assessing Officer's satisfaction regarding the likelihood of significant escaped income inadequate, leading to the quashing of the notice. The higher authorities were criticized for mechanically granting sanction without proper consideration, resulting in the flawed issuance of the notice. The court imposed costs on the Assessing Officer and the sanctioning officer, absolving the State Exchequer from bearing the burden. Case-Laws Income Tax Tue, 11 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11243