710/CBDT.

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..... ting reassessment proceedings should conform to the requirements of section 147 of the IT Act, 1961. 2. A reference has been received by the Board from a Commissioner as to whether it would be in order for the Commissioner of Income-tax/Board to approve initiation of proceedings under section 147 on the basis of reasons recorded by an ITO, who is transferred by the time the Commissioner of Incom .....

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..... the issue of initiating re-assessment proceedings. The successor ITO should record a note in the file to the effect that for the reasons recorded by his predecessor, he has come to the same conclusion and that the necessary approval by the Commissioner/Board has been obtained for reopening the assessment. 3. These instructions may please be brought to the notice of all officers working in the ch .....

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