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TMI Blog2010 (11) TMI 739X X X X Extracts X X X X X X X X Extracts X X X X ..... dent to have issued notice to the petitioner. On the other hand, on going through the reasons recorded by the respondent we find that there is a finding recorded about existence of reason to believe. In our view no illegality much less jurisdictional error has been committed by the respondent in issuing notice to the petitioner so as to invoke our jurisdiction under Article 226 of the Constitution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 of the Act on the basis of income escaped is bad in law being issued without satisfaction to the requirement of section 147 of the Act. According to him the reasons recorded while issuing notice dated 10-3-2010 (Annexure P-1) and the reasons assigned in the order dated 22-6-2010 (Annexure P-2) while deciding, the petitioner's objection are not sufficient to invoke jurisdiction under sections 148 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Annexure P-l and which read thus:- "The assessee has filed return of income. The assessee is a partner in the firm M/s. Shree Parshwanath Construction having profit share ratio of 20 per cent. The firm was construed by the registered partnership dated 14-7-2006 w.e.f. 14-7-2006. During the year the assessee has purchased land at village Goyala Khurd, Indore Road, Ujjain for Rs.1,22,46,236 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e payment of advance money. As the firm was not in existence during the previous year relevant to A.Y.2006-07 and the property was registered in the name of firm, the partners are individually liable for explaining the source of advance money given to the sellers. Therefore, I have reason to believe that taxable income has escaped assessment. Issue notice under section 148 for A.Y. 2006-07." ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns made by the learned counsel for the petitioner that there is no basis or no sufficient reason exist for the respondent to have issued notice to the petitioner. On the other hand, on going through the reasons recorded by the respondent we find that there is a finding recorded about existence of reason to believe. In our view no illegality much less jurisdictional error has been committed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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