THE COMMISSIONER OF INCOME TAX AND ANR vs. M/S GOLDSTONE CEMENTS LTD.

Bench: HONOURABLE THE CHIEF JUSTICE,HONOURABLE MRS. JUSTICE SUSMITA PHUKAN KHAUND

credit entry etc.) The reason is simple, because in such a scenario, it bellies the claim of the AO in issuing notice u/s 153A of the Act, that he is in possession of the jurisdictional fact i.e. undisclosed asset valued Rs.50 lakhs or more has escaped assessment, which constitutes the key to open the lock and then re-assess