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TMI Blog2021 (12) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... nts. ORDER P. C. :- 1. Petitioner received a notice dated 28/03/2019 under Section 148 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') that the Revenue has reasons to believe that Petitioner's income chargeable to tax for AY 2012-13 has escaped assessment within the meaning of Section 147 of the Act. Copy of the reasons is annexed to the Petition. We have considered the reaso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Bombay) reads as under : "12. The re-opening of an Assessment is an exercise of extra-ordinary power on the part of the Assessing Officer, as it leads to unsettling the settled issue/assessments. Therefore, the reasons to believe have to be necessarily material (whatever reasons) which form the basis of reopening Assessment and its reasons which would evidence the linkage/nexus to the conclusi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Officer." 3. The reasons as made available to Petitioner merely indicates information received from the DDIT (Investigation), about certain entity entering into suspicious / questionable transactions. The entire information received has been reproduced in the reasons. In the information so reproduced, there is no mention or even a cursory reference to Petitioner. There is no link between ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y notice under Section 148 of the Act for AY 2014-15 has been issued for the purpose of re-assessment. This shows non-application of mind not only by the Assessing Officer but also the sanctioning authority. If both these persons had read the reasons before putting their signatures, they would have found the error in the assessment year. Off course, the Assessing Officer has, by a communication da ..... X X X X Extracts X X X X X X X X Extracts X X X X
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