AO issued notice to initiate reassessment . On day of furnishing reasons, re-assessment order was passed. Assessee filed preliminary objections on 27-12-2018. On writ the Court held that since assessee was not provided breathing time to furnish objections, and AO proceeded to conclude re-assessment in hasty manner, re-assessment set aside and matter remanded. (AY. 2013-14)
Kanchan Agarwal (Mrs.) v. ITO (2019) 263 Taxman 682 (Karn.)(HC)
S. 147 : Reassessment–With in four years- On the day of furnishing the recorded reasons–Reassessment order is passed -Order passed in hasty manner–Order is seta side. [S. 148]