2012 (9) TMI 518 - SCH - Income Tax

Rectification of mistake - Notice u/s 154 - Held that - The said notice is totally vague as AO has not even indicated as to on what basis he has allowed excess set-off - notice u/s 148 issued squarely on the basis of notice under Section 154 - both the noticses set aisde - in favour of assessee.

Summary

The Supreme Court dismissed the civil appeal filed by the Department as the Notice under Section 154 of the Income Tax Act was found to be vague and not maintainable. The second notice under Section 148 was issued based on the first notice, leading to both notices being set aside by the High Court.