1991 (5) TMI 17

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..... 61. The notice is issued with respect to the assessment year 1974-75. According to the petitioner, prior to the issuance of the impugned notice, a similar notice was issued proposing to reopen the assessment under section 147(b). The petitioner made a representation to the Inspecting Assistant Commissioner, who directed the Income-tax Officer to drop the proceedings. It is thereafter that the pres .....

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..... . T. Scheme till the period the connection is not sanctioned. The assessee-firm is having security deposit of Rs. 3,000 with the A. O., Delhi, and Rs. 1,068.40 with the U. P. Electric Supply Co., Lucknow. Interest on the above securities has not been returned by the assessee nor has any mention of this fact been made during the assessment proceedings. The failure on the part of the assessee to dis .....

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..... under the 0. Y. T. Scheme. It does not show that any such interest is payable on the deposit made with the U. P. Electric Supply Company. The sum sought to be included is Rs. 250. We find it surprising that, for including such a small amount, notices under section 148 were given twice over. Apart from that, it has been explained in the rejoinder affidavit by the petitioner that he made the deposit .....

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