TMI Blog2017 (3) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... ered in the matter of GKN Drive Shafts (India) Ltd. V. Income Tax Officer. To our mind, the Revenue, would have no other option, but to follow the prescribed procedure. - Tax Case (Appeal) No.65 of 2017 - - - Dated:- 27-2-2017 - Rajiv Shakdher And M. Sundar, JJ. For Appellant : Mr.S.Sridhar For Respondent : Mr.T.Ravikumar Standing Counsel for Income Tax ORDER ( Judgment of the Court was delivered by Rajiv Shakdher, J. ) 1. This is an appeal preferred against the order dated 22.07.2016, passed by the Income Tax Appellate Tribunal (in short, 'the Tribunal'). 2. Apart from other grounds raised in the appeal, one of the grounds, which is, pressed before us is that, the authorities below, which included th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dealing with appeal, appears to have overlooked the fact that the Revenue had not followed the procedure prescribed in the judgment of the Supreme Court in the matter of: GKN Drive Shafts (India) Ltd. V. Income Tax Officer 259 ITR 19, while re-opening an assessment. 8. Before us, Mr.T.Ravikumar, learned counsel for the Revenue says that, this aspect of the matter was not raised by the Assessee before the Tribunal. 9. Mr.T.Sridhar, who appears on behalf of the Assessee, however, contends to the contrary. 10. Learned counsel for the Assessee, in support of his submission, that the Revenue had failed to follow the procedure prescribed by the Supreme Court in the aforementioned judgment, drew our attention to the grounds of appeal, gen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia) Ltd. V. Income Tax Officer (2003) 259 ITR 19 - with regard to the obligation placed on the Revenue to dispose of the objections once they are filed before it by the Assessee. .... 5. We see no justifiable reason to interfere with the order under challenge. However, we clarify that when a notice under s.148 of the IT 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 AO 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 AO is bound to dispose of the same by passing a speaking order. In the instant case, as the reasons have been disclosed in these p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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