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2016 (10) TMI 166

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..... the basis to examine whether the Assessing Officer had at all applied his mind to the facts and had reasons to believe that taxable income has escaped reassessment. It is these reasons, which have to be made available to the Assessee and it could give rise to a challenge to the reopening notice. It is undisputed that the reasons recorded for issuing reopening notice were never communicated to the Respondent Assessee in spite of its repeated requests. Thus, the grievance of the Revenue on the above count is unsustainable. - Decided in favour of assessee - Income Tax Appeal No. 494 of 2014 - - - Dated:- 19-9-2016 - M. S. Sanklecha And S. C. Gupte, JJ. Mr. A.R. Malhotra, a/w. Mr. N.A. Kazi, for the Appellant Mr. Satish Mody, a/w. .....

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..... ber 1996 without supplying the copy of the reasons recorded. (ii) Being aggrieved, the Respondent Assessee carried the issue in appeal to the Commissioner of Income Tax (Appeals) (CIT(A)). In its appeal, the RespondentAssessee inter alia challenged the jurisdiction of the Assessing Officer to complete the assessment on a reopening notice under Section 148 of the Act without having supplied the copy of the reasons in support of the impugned notice to the Appellant and also on merits i.e. depreciation on leased assets. By an order dated 19 December 2003, the CIT(A) dismissed the Respondent Assessee's appeal to the extent it related to the lack of jurisdiction with the Assessing Officer to complete the assessment on a reopening notice w .....

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..... reassessment. The only basis for the aforesaid submission is the submission made by the Revenue before the Tribunal that the Respondent Assessee is a public sector institution who was aware that search action has been initiated on certain lessees in respect of transactions with IDBI i.e. RespondentAssessee. On the basis of the above, it is to be inferred that the reason for reassessment was known to the Respondent Assessee. The supply of reason in support of the notice for reopening of an assessment is a jurisdictional requirement. The reasons recorded form the basis to examine whether the Assessing Officer had at all applied his mind to the facts and had reasons to believe that taxable income has escaped reassessment. It is these reasons, .....

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