https://www.taxtmi.com/caselaws?id=19137 The court quashed the notice issued under section 148 of the Income-tax Act, 1961 for the assessment year 1989-90. It was held that the Assessing Officer did not have valid reasons to believe that income had escaped assessment, as required by law. The court found discrepancies in the reasons provided for initiating the proceedings, particularly regarding the computation of book profit under section 115J. Consequently, the notice dated March 18, 1994, was deemed unsustainable and was quashed without costs imposed. en-us Wed, 26 Apr 1995 00:00:00 +0530 Wed, 04 Nov 2009 12:24:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19137 The court quashed the notice issued under section 148 of the Income-tax Act, 1961 for the assessment year 1989-90. It was held that the Assessing Officer did not have valid reasons to believe that income had escaped assessment, as required by law. The court found discrepancies in the reasons provided for initiating the proceedings, particularly regarding the computation of book profit under section 115J. Consequently, the notice dated March 18, 1994, was deemed unsustainable and was quashed without costs imposed. Case-Laws Income Tax Wed, 26 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19137