ASHOK KUMAR KAROLA Vs. UNION OF INDIA

JUDGEMENT

(1.) HEARD learned counsel for the parties.

(2.) TO cut short, Mr. Mathur, learned counsel for the Revenue submits that the matter has to be referred back to the AO for following the correct procedure before making the assessment. The Tribunal has found that the notice issued under s. 143(2) of the IT Act is bad in law as the income shown by the assessee in the return was below the taxable income. Therefore, the return should be treated as non est and the Tribunal has ultimately directed for fresh assessment after, following the due process of law i.e., the correct procedure for assessment in search case specially when the assessee has shown the income below taxable rates.