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]
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 (ITA 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
[Coram : Hon’ble Shri Aby T Varkey, Judicial Member and Hon’ble Shri M Balaganesh, Accountant Member]