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2019 (2) TMI 452 - HC - Income TaxReopening of assessment u/s 147 - notice issued u/s 148 beyond 4 years - failure to record the reasons for reopening - sanction obtained u/s 151(2) and not u/s 151(1) - Held that:- once a notice under Section 148 of the Act is issued, the proper course of action for the noticee is to file a return and to seek reasons for issuing notice, if he so desires. On receipt of reasons, the noticee is entitled to file objections to issuance of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order. - Decision in the case of GKN DRIVESHAFTS (INDIA) LTD. [2002 (11) TMI 7 - SUPREME COURT] followed. Since a Bench of this Court, while entertaining this writ petition, by an ad interim order dated 16.11.2016 had clarified that no final order shall be passed by the Assessing Officer without leave of this Court, it is directed that the aforesaid order shall remain in force for a further period of three weeks after decision by the Assessing Officer on the objections preferred by the petitioner so as to enable him to approach the appropriate forum in accordance with law, if occasion so arises.
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