2001 (2) TMI 44

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...., Trivandrum, is challenged by the petitioner, who is an assessee. These are notices issued under section 148 of the Income-tax Act, 1961, for the assessment years 1994-95, 1995-96, 1996-97, 1997-98 and 1998-99 and were issued between November 15, 2000 and December 13, 2000. On receipt thereof, the petitioner had requested the officer to furnish the reasons for resorting to such a step. By reply h....

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.... and it did not entitle them to reopen the assessments finalised. It was also stated that for two years, the assessment was completed after scrutiny, under section 143(3) of the Act. The steps, accordingly, were to be quashed, and there were no bona fides in the attempt. These submissions are refuted by Sri George, standing counsel for the Revenue. He refers to the position that the law on the ....

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....had relied on the decision reported in S. S. V. Kumar v. CIT [1993] 203 ITR 374 (Ker). On an examination of the matter, I have to agree with counsel for the Revenue that the writ petition is premature. It is also too early for anybody to pronounce that the Assessing Officer had no business or reason to believe that income had escaped assessment. The section gives power to assess or reassess suc....

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.... When an assessee makes a declaration of his income, and verifies particularly to its correctness, he has to stand by the same, and cannot object to the Department pointing out that from the materials collected, there appears to -be an error in the returns. The sanctity of a return becomes susceptible to acid tests when the Assessing Officer stumbles on materials indicating that the returns were n....