Reasons for Reopening of Assessment or Disposing the Objection by Assessee is a Must for Validity of Order !


It often happens that assessing officer issues notice u/s 148 for reassessment . These notices for reassessment , almost always, do not contain any reasons for reopening of assessment , as  noted by the A.O before issue of notice for reassessment u/s 148. Since Income Tax Act is silent on the question whether the reasons to believe for issue of notice u/s 148 be given to assessee and if given what procedure has to be followed , the matter reached Supreme Court in GKN Driveshafts (India) Ltd. v. ITO reported in [2003] 259 ITR 19.  in which the Hon’ble Supreme Court set clear procedure to be adopted on issue of notice u/s 148 . This site has published an article What Should You Do On Receipt Of Reassessment Notice? When Supreme Court decides an issue , it is incumbent upon all to follow the ruling without being provoked , as the ruling becomes law of land.

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