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2018 (4) TMI 1527 - AT - Income TaxInitiation of re-assessment proceeding U/s 147 - reasons not furnished to the assessee - Held 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 assessee’s case under consideration, the reasons were not furnished to the assessee therefore, the reassessment order cannot be upheld - decided in favour of assessee.
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