Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (7) TMI 21 - ITAT MUMBAIValidity of reopening of assessment - non-furnishing of reasons recorded by the Assessing Officer in notice dated 28.03.07 - first notice issued on 31.01.07 - second notice issued on 28.03.07 stating that the earlier notice dated 31.1.2007 may be treated as cancelled for technical - AY 2000-01, 2001-02, & 2002-03 - Held that:- It is an undisputed fact that the reasons actually recorded by the Assessing Officer were not furnished to the assessee till 14.06.2012 despite repeated requests and demands and therefore, the gist of reasons as furnished vide letter dated 28.06.2007 cannot be treated as reasons actually recorded by the Assessing Officer as per section 148(2) and as mandated by the Supreme Court in case of GKN Driveshafts (India) Ltd (2002 (11) TMI 7 (SC)). Thus, the Assessing Officer has failed to furnish the reasons recorded for reopening of the assessment within the reasonable time and rather prior to the completion of assessment, than the reassessment order passed without supply of reasons as recorded for reopening of the assessment, is invalid and cannot sustain. Accordingly, we set aside the reassessments for all 3 years under consideration being invalid - Decided in favor of assessee.
|