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TMI Blog2013 (11) TMI 322X X X X Extracts X X X X X X X X Extracts X X X X ..... t, held that in the instant case, reassessment was made without communicating the reasons as recorded for issue notice of under section 148 of the Act, was bad in law – Decided against the Revenue. - ITA No.2599/Ahd/2010 with CO No.316/Ahd/2010 - - - Dated:- 31-10-2013 - S/SHRI N.S. SAINI AND KUL BHARAT, JJ. For the Appellant: Shri D.K. Mishra, Sr. DR For the Respondent : Shri Gaurav Nahta ORDER PER N.S. SAINI, ACCOUNTANT MEMBER: This appeal is filed by the Revenue and cross appeal by the assessee against the order of the CIT(A)-XXI, Ahmedabad dated 14.6.2010. 2. In the CO the assessee has challenged the reopening of the assessment by taking the following grounds of CO: 1. The Learned Commissioner of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issuance of said notice under section 148 on the ground that reasons recorded, if any, for issuance of notice under section 148 were not provided to the assessee before the completion of assessment inspite of specific request of the assessee, and the re-assessment was made merely on the basis of the change of opinion. The assessee pointed out from the letter dated 27.11.2007 placed at page no.39 to 40 of the paper book that the assessee has complied with the notice under section 148 of the Act, and also requested the AO to provide reasons recorded as the same was not communicated to the assessee along with the notice. 4. On the other hand, the learned DR did not dispute the fact that the assessee after complying with the notice issued un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest account as revenue expenditure Interest paid on loan obtained from the bank has been separately debited as ICICI HP interest account Therefore, the interest income required to be added to your total income 2. As per the Audit report you have shown excess sales of 10690 bags of caster seeds. However no clarification regarding the excess sale of bags are available on record. Therefore, the investment in purchase of These bagas amounting to Rs.164.76 is required to be added to your total income. 3 You are required to furnish substantial evidences/explanations if any in support of your claim pertaining to the above issues on 01.12.2008 at 11.30 a.m. failing which it will be construed that you have nothing to stale in these mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the apex court, vide order dated July 16, 2007. In this view of the matter, the present appeal is also dismissed with no order as to costs. Therefore, respectfully following the decision of the Hon ble Bombay High Court, we hold that in the instant case, reassessment was made without communicating the reasons as recorded for issue notice of under section 148 of the Act, was bad in law and consequently, we quash the reassessment order dated 26.12.2008. In view of our above decision in the cross-objection of the assessee, the issues raised in the grounds of the Revenue become in fructous, and we refrain from adjudicating the same. 6. In the result CO of the assessee is allowed and the appeal of the Revenue is dismissed. Order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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