1997 (7) TMI 99

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion 256(1) of the Income-tax Act, 1961, at the instance of the assessee arising out of the assessment year 1975-76 seeking opinion of the High Court on the following questions : "(1) Whether, on the facts and in the circumstances of the case, the Inspecting Assistant Commissioner had jurisdiction to raise the gross profit rate to be applied on the estimated sales from 40 per cent. as proposed in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tion 144A can be invoked while exercising the power under section 144B, subject to the assessee being heard. We find ourselves in agreement with the view taken as above by the High Court of Karnataka. We are of the opinion that while dealing with a reference under section 144B power to give directions under section 144A can be exercised but subject to compliance with the requirement of the proviso .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X