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2023 (2) TMI 423 - DELHI HIGH COURTReopening of assessment u/s 147 - Section 148 notices were not served on the petitioner - As contended the proceedings are time barred - HELD THAT:- Assessing Officer, in any event, has not able to crystallize, what according to him is the exact amount of income, which was chargeable to tax, and had escaped assessment. In these circumstances, the best way forward, in our view, would be to give an opportunity to the petitioner to file objections to the notices issued under Section 148 [i.e., under the old regime] in line with the decision of the Supreme Court in GKN Driveshafts (India) Ltd. v. Income Tax Officer [2002 (11) TMI 7 - SUPREME COURT] The assessment orders, as well as the penalty orders, are set aside. The petitioner will file objections to the notices dated 30.03.2021 issued under Section 148 of the Act [i.e., under the old regime] within the next six weeks.Assessing Officer will accord personal hearing to the authorized representative of the petitioner, whereupon he/she will pass a speaking order.
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