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2018 (11) TMI 1183 - HC - Income TaxReopening of assessment u/s 147 - 'reasons to believe' - Held that:- The respondents can not proceed with the reassessment proceedings without deciding the objections and that in respect of the assessment year 2010-11 re-assessment on similar grounds was done and the said assessment is under challenge by the petitioner in appeal before the CIT (A) which is pending. In GKN Driveshafts (India) Limited Vs. ITO (2002 (11) TMI 7 - SUPREME COURT) it has been held that once notice of reassessment is given, the assessee has a right to demand 'reasons to believe' and on supply of the reasons he may prefer objections and in case objections are so filed, the assessing officer is obliged to decide the same by a speaking order. In view of the above, since the objections of the petitioner have not been considered and decided we deem it proper that the petitioner should wait for the decision of the same. Accordingly, we are not inclined to exercise our discretionary jurisdiction in the matter at this stage and dispose of the writ petition with the direction that the respondent authority would before making the reassessment would decide the objections.
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