Reassessment proceedings u/s 147 of Income-tax Act, 1961.

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..... ast two sentences of para 2 of the said Instruction. 2. The modified Instruction would now read as under:- "Attention is invited to the Board's Instruction No. 120** [F. No. 5/229/69-IT(Inv.)] dated the 27th October, 1969 wherein it was stated that reasons recorded before submitting the proposals for initiating reassessment proceedings should conform to the requirements of section 147 of the I .....

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..... be, for obtaining approval so long as his reasons are not different from those of his predecessor. It, would, however, be necessary for the successor Income-tax Officer not to act mechanically as a result of the approval given by the Commissioner/Board on the basis of the predecessor Income-tax Officer's proposal. It is necessary for the successor Income-tax Officer to apply his mind to the issue .....

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