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TMI Blog2019 (11) TMI 393X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee, the Assessing Officer has completed the assessment without furnishing the reasons recorded for reopening of assessment. Furnishing the reasons recorded for reopening of the assessment is mandatory condition as held in the case of GKN Driveshafts (India) Ltd. Vs. ITO [2002 (11) TMI 7 - SUPREME COURT] wherein laid down the principle that recorded reasons must be furnished to the assessee when the assessee seeks the reasons. Hon ble Bombay High Court in the case of CIT Vs. Trend Electronics [2015 (9) TMI 1119 - BOMBAY HIGH COURT] after considering the decision of CIT Vs. Videsh Sanchar Nigam Ltd. [2011 (7) TMI 715 - BOMBAY HIGH COURT] has held that recorded reasons as laid down by the Apex Court must be furnished to the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for lower tax rate of 10%. The Assessing Officer noted that the assessee had shown Long Term Capital Gain of ₹ 6,63,649/- which was claimed exempt and assessee had also claimed deduction u/s. 54F of the Act being investment in residential property. The Assessing Officer was of the view that the capital gains stated to have been earned by assessee were not genuine and therefore he issued notice u/s. 148 of the Act on 10-01-2007 which was served on the assessee. Thereafter, the case was taken up for scrutiny and assessment was framed u/s. 143(3) r.w.s. 147 of the Act vide order dated 31-12-2007 wherein the total income was determined at ₹ 8,81,720/-. Aggrieved by the order of AO, assessee carried the matter before Ld.CIT(A), who v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to confirm the same as Long Term Capital Gain. 5. Appellant prays for just and equitable relief. 6. Observations of CIT(A) in Para 7.6 may please be held perverse. 7. CIT(A) has erred in confirming (not adjudicating) ground relating to charging of interest u/s 234 B, 234 C Appellant prays to delete The same or if addition is confirmed restricting the same in terms of Sec. 234 B(3) as was applicable for the year. 8. Appellant prays to add, alter, amend, clarify and/or withdraw the ground/s of the appeal as the occasion may demand." 3. Before me, the ld. AR submitted that the reassessment order passed by the Assessing Officer be declared as bad in law in view of the fact that the assessee had sought reasons for reopening vide letter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The ld. DR on the other hand supported the order of Assessing Officer and CIT(A). 5. I have heard the rival submissions and perused the material on record. In the present ground the assessee is challenging the reassessment framed u/s 143(3) r.w.s 148 of the order. Before me, it is assessee's contention that the reasons for reopening the assessment was never furnished to the assessee despite having asked for it. In support of his contention that assessee had sought the reasons from the AO and were never furnished to the assessee, he has pointed to the letter written by the assessee to the AO which is placed in paper book. Before me, Revenue has not placed any material on record to demonstrate that the reasons recorded for reopening the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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