Allowing the petition the Court held that the mandatory requirement that the-assessee’s objections raised for reopening of the assessment should be disposed of by the Assessing Officer by a speaking order was not complied with. The reassessment proceeding under section 147 was vitiated on this ground alone. The letter of approval under section 151 for the issuance of notice under section 148 issued by the Joint Commissioner to the ITO simply stated that “approval is hereby accorded under section 151(2) for initiation of proceeding under section 147”. There was no indication of any application of mind by the authority. The approval accorded under section 151 had to be granted by the Principal Chief Commissioner, or the Chief Commissioner, or the Principal Commissioner, or the Commissioner, if the reopening is beyond four years. However, the approval was issued by the Joint Commissioner and therefore, it was not valid. (AY. 2007-08)