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2013 (8) TMI 742 - AT - Income TaxNotice u/s 148 - Reasons to be recorded – borrowed satisfaction - Held that:- ITO, Agra was not having jurisdiction over the assessee, therefore, should not have recorded the reasons for reopening of assessment and further, he was having no reasons to believe that income chargeable to tax has escaped assessment because the order of ADM, Agra has not reached finality on admission of writ petition by the Hon'ble High Court. The reasons which are not in accordance with law have been recorded at Agra by the ITO, who was not authorized to do so, as was having no jurisdiction over the assessee and the Assessing Officer having jurisdiction over the assessee at Aligarh did not do anything with regard to the initiation of re-assessment proceedings and has not recorded any reasons for re-assessment proceedings and merely acted on the borrowed satisfaction. Reliance has been placed upon the judgments in the case of Signature Hotels P. Ltd. vs. ITO,[ 2011 (7) TMI 361 - Delhi High Court] ; Hon'ble Rajasthan High Court in the case of CIT vs. Shree Rajasthan Syntex Ltd., [2008 (5) TMI 276 - RAJASTHAN HIGH COURT].
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