Pinaki Chandra Ghose, J. - (1.) In this instant application, the petitioner has challenged a show-cause notice issued by the authorities under Section 154/155 of the Income-tax Act, 1961 '(hereinafter referred to as "the said Act"). According to the petitioner, respondent No. 1, has no competence, authority and/or jurisdiction under Section 154 of the said Act to initiate the proceedings on the alleged reasons for the assessment year 1990-91. Furthermore, the petitioner has contended that the exercise of power by the said authorities and to assume jurisdiction is a condition precedent and having not been satisfied the requirements of law which has not been fulfilled the same. The notice is issued and the proceedings initiated for rectification of mistake are invalid, illegal and arbitrary.
(2.) It is further contended that the notice has been issued without application of mind. It is further contended that the mistake as alleged, apparent on the record is not an obvious and patent mistake, but something which can be established by a long drawn process of reasoning on points on which there may be conceivably two opinions and a decision of respondent No. 1 is debatable on a point of law which cannot be said to be a mistake apparent from the record. Accordingly, it is submitted that the said notice and the reasons thereunder are illegal, invalid and without jurisdiction and are liable to be set aside and/or quashed.
(3.) It is also contended that the assessment for the said year was also completed and, therefore, the said respondent has no right to issue the said notice.;