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2013 (7) TMI 270 - AT - Wealth-taxValidity of proceedings u/s 17 - Reasons for re-assessement not furnished to assessee - Held that:- right course of action for the Assessing Officer is to furnish the reasons of reopening the assessment to the assessee and in case the assessee has any objection to such reopening, the AO will adjudicate on the same in accordance with law and by way of a speaking order before assuming jurisdiction in reopening the assessment proceedings - In the present case, this exercise has not been carried out - Matter remitted back to Assessing Officer - Following decision of G.K. Drive Shafts vs. ITO [2002 (11) TMI 7 - SUPREME Court] - Decided in favour of Assessee.
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