Allowing the appeal the Court held that  it was not open to the Assessing Officer to refuse to furnish the reasons for issuing notice under section 148 . By such refusal, the assessee was deprived of the valuable opportunity of filing objections to the reopening of the assessment under section 147 . The approach of the Assessing Officer was contrary to the law laid down by the Supreme Court. On the facts, the furnishing of reasons for reopening of the assessment at the stage when the matter was pending before the Tribunal could not cure the default in the first instance. The remand ordered by the Tribunal and the consequential assessment order and demand notice issued on the basis thereof were set aside.( AY.2004-05)