2015 (3) TMI 1028

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....Mr Subhash S Shetty, Mr Mandar Vaidya & Mr Hari Iyer ORDER P.C. 1. This appeal challenges the order dated 28th September, 2012, passed by the Income Tax Appellate Tribunal, Mumbai Bench in three appeals Nos.7182, 7183 and 7184 all of 2008. The relevant assessment years are 1993-1994, 1994-1995 and 1995-1996. 2. The grounds of appeal before the Tribunal are, inter-alia, validly of reassessment ....

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....iled appeals before the Commissioner (First Appellate Authority). He partly allowed the appeal of the assessee. That order of the First Appellate Authority was challenged before the Tribunal and the Tribunal, by its order dated 14th September, 2007 and 12th September, 2007, restored the matter to the Commissioner of Income Tax (Appeals) by setting aside his earlier order. The Commissioner then hea....

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....he law is that the reasons ought to be supplied on demand by the assessee. The assessee, therefore, had no occasion to note the reasons and could not object to the same. Since the objection to the same could not be raised for want of supply of reasons, the reassessment proceedings are vitiated. However, the Tribunal still went ahead and found out from the record the basis for reopening the assessm....

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....Apart from the fact that this was not enough for reopening the assessment the Tribunal found that if the Assessing Officer had any reservation about the sale price of the goods sold to the group concerns he should have questioned the genuineness of the transactions in the earlier assessment years 1993- 1994 to 1995-1996. All information regarding the sale by the assessee was before him. Full and t....