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TMI Blog2016 (6) TMI 376X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of proceedings under section 147 of the Act within a reasonable period of time so that the assessee could file its objections thereto and the AO was to dispose of the same by passing a speaking order thereon, which the AO has not done. We also note that even as per the rules of natural justice, the assessee is entitled to know the reasons on the basis of which the AO has formed an opinion that income assessable to tax has escaped assessment. The furnishing of reasons to the assessee is to enable/facilitate it to present its defence and objections to the initiation of proceedings under section 147/148 of the Act. Therefore, we are of the considered opinion that there was no justifiable reasons for the AO to deprive the assessee of the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dify or withdraw the grounds outlined above before or at the time of hearing of the appeal. 3. The brief facts of the case are that the assessee filed return of income on 31.7.2001 showing income from salary and other sources at ₹ 2,47,000/-. The same was processed u/s. 143(1) of the Income Tax Act, 1961 (hereinafter referred as the Act) on 11.7.2002 creating a demand of ₹ 20,380/-. The order u/s. 143(1) of the Act was subsequently revised u/s. 154 of the Act and the demand was reduced to NIL. Thereafter, notice dated 28.3.2008 u/s. 148 of the Act was issued to the assessee on the basis of information from the DIT(Inv.-I), New Delhi in respect of the fact that the gifts received by the assessee were not gifts but simply ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e AO assessed the income of the assessee at ₹ 14,47,000/- by making addition of ₹ 12 lacs vide his order dated 30.12.2008 passed u/s. 148/144 of the Act. 4. Against the Order of the Ld. AO, assessee appealed before the Ld. CIT(A), who vide impugned order dated 26.9.2013 has dismissed the appeal of the assesseee. 5. Aggrieved with the aforesaid order of the Ld. CIT(A), Assessee is in Appeal before the Tribunal. 6. At the time of hearing, Ld. Counsel of the assessee has only argued the legal ground challenging the assumption of jurisdiction u/s. 148 of the Act. He stated that AO issued notice u/s. 148 of the Act on 28.3.2008 requiring the assessee to file Return of Income for AY 2001-02, which was served on the assessee o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment declared null and void. - Hon ble Bombay High Court in the case of CIT vs. Trend Electronics 2015-TIOL-2393-HC-Mum. - Hon ble Bombay High Court in the case of CIT vs. Videsh Sanchar Nigam Ltd. 340 ITR 66 (Bom.) - Decision of the Third Member Bench of ITAT in the case of Telco Dadajee Dhackjee Ltd. VS. DCIT 2(3) 2012 TIOL-532-ITAT-MUM-TM. - Decision of the Coordinate Bench of Bangalore ITAT in the case of M/s Synopsys International vs. DDIT (Int. Taxation) dated 10.12.2012 in ITA No. 549/Bang/11. - Decision of Coordinate Bench of Chennai ITAT in the case of G. Munuswamy vs. ACIT in ITA No. 242/Mds/2013 dated 5.7.2013. - Recent decision of Coordinate Bench of Ranchi ITAT in the case of Sh. Sunil Kumar vs. DCIT 2015-T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is being issued after obtaining the necessary satisfaction of the Commissioner of Income tax the Central Board of Direct Taxes. Sd/- Signature of Officer Name ..(not legible) Designation (not legible) 8.1 In response to the aforesaid notice dated 28.3.2008, assessee filed his reply dated 9.4.2008 as under:- To The Asstt. Commissioner of Income Tax, Range-I, Moradabad Sir, Ref:- Your notice u/s. 148 in the case of Dr. IS Sachdeva AY 2001- 02 With reference to the above, I wish to submit that I have already filed my income tax return for the AY 2001-02 vide receipt no. 471 dated 31.7.2001 with Circle Moradabad. Kindly treat the same as having been filed in response to your ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nishing the reasons recorded by the AO for initiation of proceedings under section 147/148 of the Act is not sustainable in law as it is incumbent on the AO to supply them within reasonable time. We note that on the anvil of this judgment, on the request of the Assessee, the AO is bound to furnish the reasons recorded for initiation of proceedings under section 147 of the Act within a reasonable period of time so that the assessee could file its objections thereto and the AO was to dispose of the same by passing a speaking order thereon, which the AO has not done. We also note that even as per the rules of natural justice, the assessee is entitled to know the reasons on the basis of which the AO has formed an opinion that income assessable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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