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2020 (10) TMI 512 - AT - Income TaxReopening of assessment u/s 147 - AO obligation to dispose off the objections filed by the assessee - tangible material to conclude or to form the opinion that due to Client Code Modification Facility used by the broker the income of the assessee assessable to tax has escaped assessment - HELD THAT:- The requirement of disposing off the objections against the notice issued u/s 148 by a separate and speaking order is a mandatory requirement in view of the judgment in case of GKN Driveshafts (India) Ltd. vs. ITO [2002 (11) TMI 7 - SUPREME COURT] the failure of the AO to dispose off the objections renders the reassessment order not sustainable in law. In the case in hand there is complete failure on the part of the AO to dispose off the objections against notice u/s 148 of the Act and not merely a procedural irregularity of separate and speaking order. Accordingly, in the facts and circumstances of the case and specifically involving the issue of addition in this case the AO does not deserve a second inning. Accordingly, without remitting the matter to the record of the AO, the reassessment order passed by the AO is set aside being invalid. - Appeal of the assessee is allowed.
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