https://www.taxtmi.com/caselaws?id=23894 The court quashed the impugned notice issued under section 148 of the Income-tax Act for the assessment years 1974-75 and 1975-76. It held that the Inspecting Assistant Commissioner lacked jurisdiction as the reasons provided for income escapement did not align with statutory provisions. Emphasizing the importance of fulfilling conditions for reassessment, the court highlighted the need for information to be derived from an external source post-original assessment. Rejecting arguments for changing revenue jurisprudence, the court stressed the necessity of a pragmatic approach within legal frameworks. Consequently, the court granted relief to the petitioner, quashing the notices and related proceedings without costs. en-us Fri, 30 Jun 1989 00:00:00 +0530 Fri, 15 Jan 2010 11:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23894 The court quashed the impugned notice issued under section 148 of the Income-tax Act for the assessment years 1974-75 and 1975-76. It held that the Inspecting Assistant Commissioner lacked jurisdiction as the reasons provided for income escapement did not align with statutory provisions. Emphasizing the importance of fulfilling conditions for reassessment, the court highlighted the need for information to be derived from an external source post-original assessment. Rejecting arguments for changing revenue jurisprudence, the court stressed the necessity of a pragmatic approach within legal frameworks. Consequently, the court granted relief to the petitioner, quashing the notices and related proceedings without costs. Case-Laws Income Tax Fri, 30 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23894