Kalupur Commercial Co-Operative Bank Ltd. v. ACIT (2022) 447 ITR 630 (Guj.)(HC)

S. 147 : Reassessment-Order passed without considering objections to notice of reassessment-Order not valid. [S. 148, Art. 226]

Allowing the petition the Court held that  the assessee had tried to explain the transactions in issue while putting forward its objections. However there was no meaningful discussion regarding them in the order disposing of the objections. In fact, none of the objections raised by the assessee could be said to have been taken into consideration by the Assessing Officer in a meaningful manner. Hence the order passed by the Assessing Officer while disposing of the objections was not valid. (AY.2014-15)