Reassessment objections must be decided by speaking order before assessment proceeds under Section 148.

On receipt of objections to a reassessment notice, the Assessing Officer must first examine those objections and dispose of them by a speaking order before continuing the reassessment. The prescribed procedure does not permit the assessment to proceed until that mandatory consideration is completed. The legal point is procedural compliance: objections under Section 148 require a reasoned order at the threshold, and reassessment cannot move forward in its absence.

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Issues: Whether, on receipt of objections to a reassessment notice under Section 148, the Assessing Officer could proceed with the assessment without first deciding the objections by a speaking order.

Analysis: The prescribed procedure requires the Assessing Officer to examine the objections and dispose of them by a speaking order before continuing with the reassessment. The assessment cannot proceed until that exercise is completed.

Conclusion: The objections must be decided by a speaking order first, and the Assessing Officer cannot proceed with the assessment until then.

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