TMI Blog2019 (12) TMI 1542X X X X Extracts X X X X X X X X Extracts X X X X ..... ded to point out that though the assessment has already been made in the hands of the association of persons, the Assessing Officer sought to reopen the assessment to make protective addition in the hands of the petitioners - as submitted impugned orders are passed in violation of the principles of natural justice and that the proceedings under section 148 of the Act were wholly without jurisdicti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 1. By these petitions, the petitioners have challenged the notices issued under section 148 of the Income Tax Act, 1961 (hereinafter referred to as the Act ), the order rejecting the objections filed by the petitioners against the reasons recorded as well as the assessment orders passed under subsection (3) of section 143 read with section 147 of the Act and the notices of demand issued un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the case of DHFL Venture Capital Fund v. Income Tax Officer and others, [2013] 358 ITR 471 (Bom), wherein the court has held that the formation of the reason to believe and the existence of that reason must be in the present. Recourse can be taken to the provisions of section 148 of the Act where the Assessing Officer has a reason in present, meaning thereby, a reason which is present to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs rendered on 24.09.2015 in Special Civil Application No.10713 of 2015, wherein the court has placed reliance upon the decision of the Supreme Court in the case of Kranti Associates Private Ltd. v. Masood Ahmed Khan, [2010] 9 SCC 493, for the proposition that reasons have virtually become as indispensable a component of a decision making process as observing principles of natural justice by judic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es laid down in the above decision, namely, that the impugned orders are passed in violation of the principles of natural justice and that the proceedings under section 148 of the Act were wholly without jurisdiction. It was submitted that therefore, these petitions under Article 226 of the Constitution of India against the assessment orders are maintainable. 6. Having regard to the submission ..... X X X X Extracts X X X X X X X X Extracts X X X X
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