2013 (9) TMI 870

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....K. Garg For the Respondent : D. D. Chopra,Prashant Kumar ORDER (Delivered by Hon'ble Dr. Satish Chandra, J) Present appeal has been filed by the assessee under Section 260 A of the Income Tax Act, against the judgment and order dated 12.09.2008 passed by the Income Tax Appellate Tribunal, Lucknow in I.T.A.No.1485/Alld/1997, for the block period 01.04.1986 to 23.08.1996. On 01.10.200....

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....ction 158 BD and on validity of such an assessment? (iii)Whether direction given by the Tribunal for issuing of fresh notice under section 158 BD, after expiry of a period of nearly twelve years, can be said to be meeting the rule of "reasonableness" as stands propounded in the juridical pronouncements? The brief facts of the case are that the assessee company belongs to Jindal Group. On 23.....

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....of the Act after recording satisfaction. We restore the matter to the file of the Assessing Officer to cure these irregularities, issue notice u/s. 158 BC/158 BD afresh to the assessee, and frame assessment, thereafter, according to law." Not being satisfied, the assessee has filed the instant appeal. With this background, Sri K.R.Rastogi, holding brief of Sri S.K.Garg, learned counsel for t....

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....oid ab initio. On the other hand, Sri Prashant Kumar, learned counsel for the department has justified the impugned order. After hearing both the parties and on perusal of the record, it appears that before initiating proceedings under section 158 BD, the satisfaction of assessing officer is mandatory, but the same is not required, when the assessing officer who initiated proceedings and the....