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TMI Blog2022 (6) TMI 789X X X X Extracts X X X X X X X X Extracts X X X X ..... aking order in respect of the objections raised by the assessee. It is contrary to the decision of the Hon'ble Supreme Court in the case of GKN Driveshafts (India) Ltd.[ 2002 (11) TMI 7 - SUPREME COURT ] As we set aside the order passed by the ld. CIT(A) and remit the matter back to the file of the Assessing Officer directing to consider the objections raised by the assessee in respect o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment was completed under section 143(3) of the Income Tax Act, 1961 [ Act in short] dated 23.12.2011 assessing income at ₹ 98,02,21,680/-. Thereafter, the Assessing Officer issued notice under section 148 of the Act on the ground that there is an escapement of income and the assessment was reopened and completed under section 143(3) r.w.s. 147 dated 21.12.2016. Against the reasses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment under section 148 of the Act is bad in law, the ld. CIT(A) has held that the additions made in the reassessment proceedings is clearly a change of opinion and allowed the appeal of the assessee. 3. Aggrieved, the Revenue is in appeal before the Tribunal. The ld. DR has submitted that as per the decision of the Hon'ble Supreme Court in the case of GKN Driveshafts (India) Ltd. v. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on'ble Supreme Court has directed as under: ..... However, we clarify that 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 reasons, the noticee is entitled to file obj ..... X X X X Extracts X X X X X X X X Extracts X X X X
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