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of <h1>Income Tax Notices Validated: Taxpayer Objection Rights Preserved, Assessment Proceedings Confirmed with Expedited Appeal Mechanism</h1> <h3>GKN Driveshafts (India) Ltd. Versus Income-Tax Officer And Others</h3> SC upheld notices under Income-tax Act sections 148 and 143(2), directing appellant to file objections and Assessing Officer to issue a reasoned order. ... Validity of notices issued under sections 148 and 143(2) - Held that:- We see no justifiable reason to interfere with the order under challenge. 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 of reasons, the notice is entitled to file objections to issuance of notice and the assessing officer is bound to dispose of the same by passing a speaking order. In the instant case, as the reasons have been disclosed in these proceedings, the assessing officer has to dispose of the objections, if filed, by passing a speaking order, before proceeding with the assessment in respect of the abovesaid five assessment years. The Supreme Court, in 2002 (11) TMI 7, dismissed the appellant's civil appeals challenging the validity of notices issued under Sections 148 and 143(2) of the Income Tax Act, 1961, which had been previously upheld by the Delhi High Court as premature for writ petition. The Court emphasized the procedural framework: upon issuance of a Section 148 notice, the assessee must file a return and may request reasons for the notice; the assessing officer is 'bound to furnish reasons within a reasonable time.' Subsequently, the assessee may file objections, which the assessing officer must address by passing a 'speaking order' before proceeding with reassessment. The Court directed that such objections, if filed, be disposed of accordingly for the five contested assessment years (1992-93, 1993-94, 1994-95, 1997-98, 1998-99). Appeals against assessment orders before the Commissioner (Appeals) were also to be disposed of expeditiously. The appeals were dismissed with no order as to costs.
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