TMI Blog2018 (11) TMI 325X X X X Extracts X X X X X X X X Extracts X X X X ..... bit 16 is another notice by the ITO, Ward – 1(2) asking the assessee to furnish information in respect of financial transactions. Surprisingly, this notice contains PAN of the assessee. In the earlier notice, as mentioned elsewhere, the same ITO observed that the assessee has entered into transaction without quoting PAN. Exhibit 17 is the reply filed by the assessee. Exhibit 18 is again a notice by the same ITO asking the assessee to once again furnish information regarding financial transactions. Exhibit 19 is the reply filed by the assessee. All these facts when considered with reasons recorded for reopening of the assessment would lead to only one conclusion that the reasons recorded for reopening the assessment are devoid of any appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us, the assessee sought to raise the following additional ground of appeal: That the impugned assessment so framed is bad in law and on facts, in as much as, the initiation of proceedings under section 147 of the Act and, further completion of assessment under section 143(3)/ 147 of the Act was without satisfying the statutory pre-conditions (with non application of mind and without any tangible material) as envisaged in aforesaid section and was without jurisdiction and was liable to be quashed, as such. 4. The issue raised vide additional ground [supra] goes to the root of the matter. In the light of the decision of the Hon'ble Supreme Court in the case of NTPC 229 ITR 383, the additional ground is admitted. 5. The reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. In the earlier notice, as mentioned elsewhere, the same ITO observed that the assessee has entered into transaction without quoting PAN. Exhibit 17 is the reply filed by the assessee. 10. Exhibit 18 is again a notice by the same ITO asking the assessee to once again furnish information regarding financial transactions. Exhibit 19 is the reply filed by the assessee. 11. All these facts when considered with reasons recorded for reopening of the assessment would lead to only one conclusion that the reasons recorded for reopening the assessment are devoid of any application of mind. In our considered opinion, such reopening cannot be upheld. We, accordingly, quash the notice u/s 148 of the Act thereby quashing the assessment order so ..... X X X X Extracts X X X X X X X X Extracts X X X X
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