Tribunal held that the reassessment framed without disposing off the objections for reasons recorded is bad in law and liable to be quashed . Relied on KSS Petron Pvt Ltd v .ACIT ( ITA No. 224 of 2014 dt. 3-10 2016 )( Bom)( HC),Bayer Material Science ( P) Ltd v DCIT (2016) 382 ITR 333 ( Bom)( HC), Fomento Resorts and Hotels Ltd v.ACIT ( TA No. 63 of 2007 dt . 30-8 -2019 ( Bom)( HC) .( ITA No. 82 / Mum/ 2011 dt 23-12 -2022 )( AY. 2001 -02 )
General Electric Company v ADIT ( Mum)( Trib) www.itatonline .org
S. 148 : Reassessment –Notice – Objection to recorded reason was not disposed off by a separate speaking order – Order is bad in law .[ S. 143(3), 147 ]
When the law on this is so well settled, how come AOs continue to pass such Orders which are absolutely in contempt of appellate Decisions? Why are they not held accountable, for the colossal waste of Nation’s Resources and waste of Assessee’s Resources as well. It is time very high costs are awarded / levied on such habitual offending AOs.