PRAKASH TRADING COMPANY Vs. DT PADIA

JUDGEMENT

(1.) THE petitioner-Assessee, a Partnership Firm registered under the Indian Partnership Act, has approached this Court under Article 226 of the Constitution of India challenging the notice under Section 148 of the Income Tax Act, 1961 ('the Act' for short) dated 17. 6. 1996 as well as letter dated 15. 10. 1996 purported to have been issued under the provisions of Section 142 (1) of the Act as having been issued without jurisdiction, contrary to law and therefore, deserved to be quashed and set aside, though the prayer is only in respect of notice dated 17. 06. 1996.

(2.) THE facts in brief deserve to be set out as under.

(3.) THE petitioner-Assessee filed a return of income for the A. Y. 1987-88 along with audited accounts on 30. 6. 1987. In the said return, the petitioner claimed deduction under Section 32a of the Act in realization to Investment Allowance of Rs. 4,73,777/- consisting of the following:<FRM>JUDGEMENT_2631_TLGJ0_2009Html1.htm</FRM>