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TMI Blog2009 (11) TMI 419X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Act. held that- the order passed by the authorities quashed on the ground that there was no compliance with the provisions of the section 147 of the Act. allow the appeal. - 25 of 2004 - - - Dated:- 30-11-2009 - MANJUNATH K. L., ARAVIND KUMAR JJ. A. Shankar for the appellant. K.V. Aravind for the respondent. JUDGMENT he judgment of the court was delivered by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t year 1991-92 and is it permissible in law to record reasons together for more than one assessment year ? 3. Whether the Tribunal was justified in law in holding that the reasons recorded constitute adequate compliance with the mandatory requirements for assuming jurisdiction under section 148 while in fact the reasons recorded do not justify in even suggesting that the income has escaped asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1994, which read as hereunder : "I have reason to believe that the income chargeable to tax for the assessment years 1992-93 and 1993-94 has escaped assessment within the meaning of section 147 of the Income-tax Act. Issue notice under section 148." 5. Therefore, what is to be considered by us in this appeal is whether the reasons assigned in the order-sheet dated April 27, 1994, constitute th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion Bench of this court has held that such reasons do not constitute compliance as required under section 147 of the Act and in fact the Division Bench relying upon various judgments of other courts including the Supreme Court in Ganga Saran and Sons P. Ltd. v. ITO [1981] 130 ITR 1 has negatived the contention of the Revenue and held that such order cannot constitute compliance as required under s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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