DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-DIMAPUR, DIMAPUR vs. SHRI SANWARMALL AGARWALLA, DIMAPUR

In the result, all the appeals of revenue are dismissed

Bench: Shri A. T. Varkey, Jm]

capital gains tax and, therefore, the Assessing Officer had reasons to believe that the income had escaped assessment. In the instant case, admittedly, the notice was issued after four years but before six years. In our opinion, the reasons so recorded by the Assessing Officer was not sufficient to intiate proceedings under Section 148 of the Act. We find from

INCOME TAX OFFICERM WARD-DIMAPUR, DIMAPUR vs. SHRI BHAMA AGARWALLA, DIMAPUR

In the result, all the appeals of revenue are dismissed