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Ankita Amit Choksey vs Income Tax Officer-19(1)(1) And 2 Ors on 24 November, 2018

10.2. We also note that ld. AO has proceeded on fundamentally wrong facts since the amount of Rs. 25 lakh as noted in the reason to believe forms part of the total sale consideration reported in the P&L Account and thus, has come to the conclusion wrongly that income chargeable to tax had e scaped assessment. Assessee had pointed out this fact in its objection raised before the Ld. AO who did not consider the same. Similar issue was dealt by Hon'ble High Court of Bombay in the case of Ankit A. Choksey Vs. ITO & Ors. 411 ITR 207 (Bom) who had held that notice issued u/s. 148 was without jurisdiction and therefore, quashed and set it aside.
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