KAIRA DIST CO OPERATIVE MILK PRODUCERS UNION LIMITED Vs. DEPUTY COMMISSIONER OF INCOME TAX ASSESSMENT NO 2

JUDGEMENT

(1.) RULE . Mr. M.J. Thakore, waives service of rule for the respondent.

(2.) BY this petition the petitioner challenges notice Exh. K dt. 7th Feb., 1994, issued under S. 148 r/w S. 147 of the IT Act, 1961, inter alia, on the ground that on the face of it, the assessee has not been found to have failed to disclose truly and fully all material facts necessary for assessment of its income during the course of assessment proceedings for the asst. year 1987 88, income of which is sought to be reassessed and, therefore, the notice is clearly barred by time.

(3.) ON assessee's demand in the present case reasons for initiating proceedings for reassessment were disclosed by communication dt. 3rd Jan., 1995, vide Exh. L.