2003 (9) TMI 45 - HC - Income Tax

Maintainability of writ petition against the notice of reassessment - The challenge in this writ petition is to the notice u/s 148, informing the petitioner that he has reason to believe that income had escaped assessment within the meaning of section 147 - In view of the law laid down by the Supreme Court in GKN Driveshafts (India) Ltd. v. ITO, the proper course for the petitioner is to file its objections before the assessing authority who will decide the same by passing a speaking order. The present petition under article 226 of the Constitution is misconceived at this stage. Consequently, the same is dismissed.

Summary

The High Court of Punjab and Haryana dismissed a writ petition challenging a notice issued by the Assistant Commissioner of Income-tax under section 148 of the Income-tax Act for the assessment year 1995-96. The court directed the petitioner to file objections before the assessing authority as per the Supreme Court's decision in GKN Driveshafts (India) Ltd. v. ITO. The petition was deemed misconceived at that stage but the petitioner was allowed to raise all pleas before the competent authority.