Appeals allowed for statistical purposes, Assessing Officer to provide reasons for reopening assessment.

The appeals were allowed for statistical purposes, directing the Assessing Officer to provide the verbatim copy of reasons recorded for reopening the assessment and to adjudicate the objections raised by the assessee. The Tribunal's decision in ITA No.1611/PN/2013 applies mutatis mutandis to ITA Nos.1612/PN/2013 to 1614/PN/2013.

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Issues Involved:
1. Invoking of provisions of section 147 of the Income Tax Act, 1961.
2. Non-supply of verbatim copy of reasons recorded for reopening the assessment.
3. Taxation of alleged unaccounted investment and interest income.

Issue-Wise Detailed Analysis:

1. Invoking of Provisions of Section 147 of the Income Tax Act, 1961:
The preliminary issue raised in all the appeals is against the invoking of provisions of section 147 of the Act and consequent re-assessment order passed under section 143(3) r.w.s. 147 of the Act. The assessee originally filed the return of income on 31.10.2000 declaring total income of Rs. 64,870/-. The Assessing Officer received information from the Addl. CIT, Central Range 2, Pune, following a search under section 132 of the Act on Shri Shriram Soni, indicating that the assessee had advanced loans on interest through Shri Shriram Soni. Based on this information, the Assessing Officer believed there was escapement of income within the meaning of section 147 of the Act and issued a notice under section 148 on 30.03.2007. The assessee furnished a return of income declaring Rs. 64,870/- in response to the notice. The Assessing Officer added Rs. 14 lakhs as unaccounted investment under section 69 of the Act and Rs. 29,900/- as interest income.

2. Non-Supply of Verbatim Copy of Reasons Recorded for Reopening the Assessment:
The assessee contended that despite several requests, the exact reasons recorded for reopening the assessment were not provided. The assessee requested the reasons recorded for reopening the assessment under section 147 of the Act and the copies of documents relied upon. The Assessing Officer communicated the reasons for issuing the notice under section 148 but did not provide the verbatim copy of the reasons recorded. The CIT(A) upheld the reopening of the assessment, noting that the conditions for section 147 proceedings were satisfied. The Tribunal noted that under the provisions of section 147, the Assessing Officer must record reasons for reopening the assessment and provide these reasons to the assessee. The Tribunal cited the Hon'ble Supreme Court in GKN Driveshafts (India) Ltd. Vs. ITO and Others, which mandates that the Assessing Officer furnish reasons within a reasonable time and dispose of any objections by passing a speaking order. The Tribunal remitted the issue back to the Assessing Officer to provide the verbatim copy of reasons recorded and adjudicate the objections raised by the assessee.

3. Taxation of Alleged Unaccounted Investment and Interest Income:
The assessee denied any unaccounted investment in money lending. The Assessing Officer rejected the affidavit provided by the assessee's partner, considering it a self-defense to avoid taxes. The CIT(A) deliberated on the nature of the documents seized and the provisions of section 153C r.w.s. 153A of the Act. The CIT(A) observed that the seized documents, which were computer-generated checklists and cash books found during the search on Shri Shriram Soni, did not belong to the assessee but to Shri Shriram Soni. Therefore, the documents merely constituted "information" for issuing a notice under section 148 r.w.s. 147. The Tribunal noted that the assessee had participated in the assessment proceedings and could not raise the issue of non-receipt of reasons at this juncture. The Tribunal directed the Assessing Officer to provide the verbatim copy of reasons recorded and adjudicate the objections raised by the assessee. The Tribunal remitted the issue to the Assessing Officer to adjudicate on merits after providing a reasonable opportunity of hearing to the assessee.

Conclusion:
The appeals were allowed for statistical purposes, with directions to the Assessing Officer to provide the verbatim copy of reasons recorded for reopening the assessment and to adjudicate the objections raised by the assessee. The Tribunal's decision in ITA No.1611/PN/2013 applies mutatis mutandis to ITA Nos.1612/PN/2013 to 1614/PN/2013.

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