Allowing the petition, the Court held that the procedure laid down by the Supreme Court in the case of GKN Driveshafts (India) Ltd. v. ITO, (2003) 259 ITR 19 (SC) had to be followed when a notice under section 148 of the Income-tax Act, 1961, was issued. The procedure required that on the issue of notice under section 148 of the Act, the Assessing Officer was bound to dispose of the objections raised by the assessee by a speaking order prior to the issue of the reassessment order. Admittedly, the reasons for reopening having been communicated and reply to such reasons having been furnished by the assessee, the Assessing Officer was bound to dispose of the assessee’s objections by passing a speaking order before proceeding to pass an order under section 143(3) read with section 147 of the Act. Court also held that the practical difficulties of the Assessing Officer could be of no reason to condone the non-adherence to the procedure in GKN Driveshafts (India) Ltd. v. ITO, (2003) 259 ITR 19 (SC). Notices and reassessment order were set aside. (AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-Notice-Procedure laid down in GKN Driveshafts (India) Ltd. v. ITO (2003) 259 ITR 19 (SC)-Assessing Officer bound to dispose of objections of assessee by speaking order prior to reassessment order-Notices and reassessment order set aside.[S. 148, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60151","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fEb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=60151"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60151\/revisions"}],"predecessor-version":[{"id":60152,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60151\/revisions\/60152"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}