9911796707
TMI Blog2003 (10) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... icee is to file a return and if he so desires, to seek reasons for issuing notices. The Assessing Officer is bound to furnish reasons within a reasonable time. On receipt of reasons, the noticee is entitled to file objections to issuance of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order X X X X Extracts X X X X X X X X Extracts X X X X ..... eturns filed must be taken as returns under section 148 of the Act. The assessing authority was of the view that the petitioners have to file returns pursuant to the section 148 notices and subsequently the petitioners filed returns as required in the notices issued under section 148 of the said Act. The petitioners, relying on the decision of the Supreme Court in G.K.N. Driveshafts (India) Ltd. v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to whether there is any escapement of income which is not permissible under section 147 of the Act. Senior counsel submitted that the notices under section 148 are issued without jurisdiction. Senior counsel also submitted that the petitioners are entitled to know the reasons for the reopening and to file objections. Senior counsel also pointed out that it is open to the petitioners to challeng ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the order under challenge. However, we clarify that when a notice under section 148 of the Income-tax Act is issued, the proper course of action for the noticee is to file a return and if he so desires, to seek reasons for issuing notices. The Assessing Officer is bound to furnish reasons within a reasonable time. On receipt of reasons, the noticee is entitled to file objections to issuance of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
