TMI Blog2018 (11) TMI 1183X X X X Extracts X X X X X X X X Extracts X X X X ..... nt is under challenge by the petitioner in appeal before the CIT (A) which is pending. In GKN Driveshafts (India) Limited Vs. ITO (2002 (11) TMI 7 - SUPREME COURT) it has been held that once notice of reassessment is given, the assessee has a right to demand 'reasons to believe' and on supply of the reasons he may prefer objections and in case objections are so filed, the assessing officer is obli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respondents. The petitioner has preferred this writ petition against the show cause notice dated 16.3.2018 issued under Section 147 of the Income Tax Act, 1961 for the purposes of reassessment for the assessment year 2014-15. The petitioner has been supplied with the 'reasons to believe' on which satisfaction has been recorded that the income of the petitioner has escaped assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has a right to demand 'reasons to believe' and on supply of the reasons he may prefer objections and in case objections are so filed, the assessing officer is obliged to decide the same by a speaking order. In view of the above, since the objections of the petitioner have not been considered and decided we deem it proper that the petitioner should wait for the decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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