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of <h1>Reassessment invalidated where reasons for reopening were not given to taxpayer before assessment completion despite three-year window</h1> <h3>Commissioner of Income-tax Versus Videsh Sanchar Nigam Ltd.</h3> HC dismissed the appeal, holding that the reassessment could not be sustained where reasons recorded for reopening were not furnished to the assessee ... Reopening of the assessment - HELD THAT:- In the present case the reasons recorded for reopening of the assessment though repeatedly asked by the assessee were furnished only after completion of the assessment - in the case of CIT v. Fomento Resorts and Hotels Ltd.[2006 (11) TMI 645 - BOMBAY HIGH COURT], Income-tax Appeal No. 71 of 2006 decided on November 27, 2006, has held that though the reopening of the assessment is within three years from the end of the relevant assessment year, since the reasons recorded for reopening of the assessment were not furnished to the assessee till the completion of assessment, the reassessment order cannot be upheld - Appeal is dismissed The High Court of Bombay dismissed an appeal regarding the cancellation of reopening of assessment because the reasons for reopening were not provided to the assessee until after completion of assessment, following a previous judgment in a similar case. The appeal was dismissed with no order as to costs.
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