TMI Blog2016 (3) TMI 179X X X X Extracts X X X X X X X X Extracts X X X X ..... n GKN Driveshafts (India) Ltd (2002 (11) TMI 7 - SUPREME Court ). Thus, the draft Assessment order dated 30th March, 2015 is not sustainable being without jurisdiction. This for the reason that it has been passed without disposing of the objections filed by the Petitioner to the reasons recorded in support of their impugned notice. Accordingly, we set aside the draft Assessment order dated 30th March, 2015. We are not dealing the validity of the reasons in support of the impugned notice in the present facts as the time limit to pass the Assessment order as provided under 4th Proviso to sub-section(2) of Section 153 of the Act has already expired when the petition was filed. - WRIT PETITION NO. 2502 OF 2015 - - - Dated:- 27-1-2016 - M.S.S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hed the reasons recorded for issuing the impugned notice to the Petitioner only on 19th March, 2015. 5. On 25th March, 2015 the Petitioner filed its objections to the reasons recorded as communicated on 19th March 2015 for issuing the impugned notice dated 6th February, 2013. The Assessing Officer without disposing of the Petitioner's objections passed a draft Assessment order dated 30th March, 2015. 6. This passing of the draft Assessment order on 30th March, 2015 was in the face of the decision of the Supreme Court in GKN Driveshafts (India)Ltd v/s Income Tax Officer and Others reported in 259 ITR 19(SC), wherein it has been laid down that whenever a reopening notice is issued under Section 148 of the Act, the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r on transfer pricing were the reasons for reopening provided to the Petitioner. We are unable to understand how the TPO could at all exercise jurisdiction and enter upon enquiry on the reopening notice before the same is upheld by an order of the Assessing Officer passed on objections. Besides the recording of reasons for issuing the reopening notice is to be on the basis of the Assessing Officer's reasons. The TPO's reasons on merits much after the issue of the reopening notice does not have any bearing on serving the reasons recorded upon the party whose assessment is being sought to be reopened. 8. One more peculiar fact to note is that in the affidavit dated 10th July 2015 filed by one Prabhakar Ranjan on behalf of the Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an Assessee, the Principal Commissioner would take note and adopt remedial action / proceedings. 10. Today, when the matter reached hearing, the learned Additional Solicitor General informs us that on 22nd January, 2016 the Principal Commissioner of Income Tax had passed an order under Section 264 of the Act by which he set aside the draft Assessment order dated 30th March 2015 and thereafter restored the matter to the Assessing Officer for passing order after deciding the objections filed by the Petitioner. However, after hearing the Petitioner for some time, the learned Additional Solicitor General on instructions states that the order dated 22nd January, 2016 passed by the Principal Commissioner of Income Tax is being withdrawn. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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