TMI Blog2021 (7) TMI 513X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessments are concerned are pari materia with Section 17 of the Wealth Tax Act, 1957 and Section 147 of the Income Tax Act, 1961. As rightly contended by the learned counsel for the petitioner, the decision of the Hon'ble Supreme Court in G.K.N.Driveshafts case [ 2002 (11) TMI 7 - SUPREME COURT ] is to be applied even for re-opening of assessment under the Wealth Tax Act, 1957 - we therefore of the view, the impugned order deserves to be set aside. Accordingly, remit the case back to the respondent to pass a speaking orders on merits in accordance with law following the decision of the Hon'ble Supreme Court in G.K.N.Driveshafts case. - W.P. Nos. 15211, 15213 & 15214 of 2016 And W.M.P. Nos. 13261, 13263 to 13265 of 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eme Court in G.K.N.Driveshafts Case (Referred to supra) and held that the respondent enjoined to pass a speaking order. 5. The learned senior standing counsel for the respondent submits that the impugned order is well-reasoned and requires no interference inasmuch as the petitioner also participated in the assessment proceedings before the impugned orders came to be passed. She therefore submits that the impugned orders are liable to be sustained and these writ petitions are liable to be dismissed. 6. Heard the learned counsel for the petitioner and the learned senior standing counsel for the respondent. 7. There is no dispute in the facts and circumstances of the case that no speaking order was passed before passing the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of this Act shall, so far as may be, apply as if the returns were a return required to be furnished under section 14 of this Act. If the [Assessing] Officer [has reason to believe] that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections 148 to 153, assess or reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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