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TMI Blog2017 (11) TMI 1641X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment on 22.12.2010, despite repeated requests by the assessee to the A.O for furnishing the same. Under these circumstances, as the ld. A.O has failed to give a copy of the reasons recorded for reopening to the assessee despite application for the same, the assessment is to be held as bad in law. - Decided in favour of assessee - I.T.A. No. 2084/Kol/2014 - - - Dated:- 10-11-2017 - Sri J. Su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sallowance of the provision for loss on derivative transactions amounting to ₹ 76,62,632/-. 3. That the appellant craves leave to add fresh ground and/or modify or substitute any grounds before or at the time of hearing. 2. When the matter had come before the Bench on earlier occasions, the ld. Departmental Representative (DR) was directed to verify the assessment records and confi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Driveshafts (India) Ltd vs. ITO Others (259 ITR 19) SC .....................when a notice under Section 148 of the Income Tax Act is issued, the proper course of action for the notice is to file 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 notice is entitled to file o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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