1995 (4) TMI 56

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...., the petitioner has prayed for quashing the notice as contained in annexure-7 to the writ application, issued under section 148 of the Income-tax Act, 1961 (hereinafter referred to as " the Act "). Heard learned counsel for the parties. Learned counsel appearing on behalf of the petitioner submitted that the order as contained in annexure-7 to the writ application is without jurisdiction an....

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....oceeding for escaped assessment under section 147 of the Act and the assessee is liable to respond to the said notice and furnish a return as required under section 148 of the Act. Mr. Prasad further stated that the Assessing Officer before issuing the purported notice as contained in annexure-7 to the writ application has recorded reasons and the instant application is, therefore, misconceived. ....

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....t the Assessing Officer has not recorded any reason before the notice under section 148 of the Act was issued. The contention of learned counsel appearing on behalf of the petitioner that notice under section 148 of the Act could not have been issued without there being an assessment made under section 143(1)(a) and section 143(3) of the Act is. equally not tenable. Explanation 2(b) to section ....

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.... assessment year) ; " Now, Explanation 2(b) to section 147 of the Act reads as follows : " For the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely, . . . (b) where a return of income has been furnished by the assessee, but no assessment has been made and it is noticed by the Assessing Officer that the a....