AO fails to verify Genuineness of Credible Information before issuing Notice: ITAT quashes Notice u/s 148 of Income Tax Act [Read Order]
The AOs before issuing notice had to verify the genuineness of the credible information but the AO did not do so. Hence, accordingly the issuance of notices under Section 148 of the Income Tax Act is bad in law
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the notice issued under Section 148 of the Income Tax Act, 1961 as the Assessing Officer failed to verify the genuineness of the credible information before issuing the notice. In the present case the order of AO reveals that he received information…
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