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TMI Blog2015 (11) TMI 1290X X X X Extracts X X X X X X X X Extracts X X X X ..... al Representative could not bring any material on record to controvert the finding of the Commissioner of Income Tax (Appeals) that the reason for reopening of the assessment was communicated to the assessee. Hence, following the decision of the Hon'ble Bombay High Court in the case of M/s. Trend Electronics (2015 (9) TMI 1119 - BOMBAY HIGH COURT), the appeals of the assessee are to be allowed and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. We have heard rival submissions and perused the orders of the lower authorities and the materials available on record. In the instant case, Commissioner of Income Tax (Appeals) has observed as under:- 4. Ground of appeal No.3 in these appeals is regarding initiation of proceedings under section 148 of the IT Act, 1961. It has been claimed that no reasons for initiation of such proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 43(2) and 142(1) of the Income-tax Act, 1961 along with letter as to why investment in insurance policies of ₹ 8,61,829/- not reflected in the balance sheets, should not be treated as undisclosed investment. Therefore, the assertion of the appellant that reasons were not communicated is baseless and contrary to facts. Thereafter, the AO issued another show-cause in which it was mentioned tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed for issuing a re-opening notice under section 148 being furnished to the assessee when sought for, is bad in law. Hence, he submitted that the re-assessment order passed by the Assessing Officer should be quashed. 5. Departmental Representative, on the other hand, supported the orders of the lower authorities. 6. We find that the Commissioner of Income Tax (Appeals) has stated in his orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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