Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2021 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 1098 - HC - Income TaxValidity of reopening of assessment u/s 147 - notice issued on the last day of expiry of limitation - HELD THAT:- Violation in following the procedure for reassessment as set out by the Supreme Court in the case of GKN Drive Shafts V. ITO (2002 (11) TMI 7 - SUPREME COURT) where in conclusion, the Bench states as follows:- We see no justifiable reason to interfere with the order under challenge. We clarify that when a notice under Section 148 of the Income tax Act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing notices. The assessing officer is bound to furnish reasons within a reasonable time. 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’. In the light of the above, the impugned order dated 30.12.2019 is set aside. The petitioner is permitted to file objections to the assumption of jurisdiction within a period of four (4) weeks from date of uploading of this order and an order be passed either accepting or rejecting the same within a period of three (3) weeks from date of receipt of objections, after hearing the petitioner. Proceedings for assessment, if any all, shall be initiated in accordance with law, thereafter.
|