In the result, appeal filed by the assessee is partly allowed
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
section 148 of the Act, on the basis of information allegedly received by him from the Directorate of Income Tax (Investigation), New Delhi. AO has not applied his mind so as to come to an independent conclusion that he has reason to believe that income has escaped during the year. 1.4 Fishing enquiry-Information from intelligence wing: Giriraj Enterprises