AMBER TIE- UP LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) The petitioner assails invocation of Section 148 of the Income Tax Act, 1961 read with Section 147 thereof against the petitioner in respect of an identified assessment year.

(2.) Learned advocate for the petitioner submits that, the assessing officer did not have any material before it to form a reasonable opinion for invocation of Section 148 . She refers to the reasons given for invocation of Section 148 . She submits that, the reasons are vague. The allegation is of receipt of Rs. 2.20 crores approximately in the relevant assessment year. She submits that, the details of the persons making the funds available are not specified. She submits that, it is not a case that, the assessing officer speaks of one transaction. In view of the vagueness of the charges against the petitioner, the assessing officer ought not to have formed an opinion that there was an income escaping assessment on the materials made available to him. Since such materials are available he ought not to have invoked Section 148 .

(3.) In support of the contention that the assessing officer is required to form an opinion for the purpose of invoking Section 148 of the Act of 1961 and nature and extent of the opinion required to be formed, learned advocate for the petitioner relies upon 329 ITR 110 (Sarthak Securities Co. (P.) Ltd. vs. Income-tax Officer-Ward 7(3), 299 ITR 383 ( Commissioner of Income-tax vs. Atul Jain ) and 79 ITR 603 ( Chhugamal Rajpal vs. S.P. Chaliha ).