2006 (10) TMI 73

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the common order passed by the Tribunal on February 28, 2005, whereby, reassessment orders for the aforesaid two assessment years 1985-86 and 1986-87 in the case of respondent assessee have been quashed. 2. The appellant has sought to raise the question about validity of the finding reached by the Tribunal as well as by CIT (Appeals) that reopening of the assessment for these two years cannot be ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and Assessing Officer was directed to make fresh assessment in terms of the directions issued in the order dated January 8, 2002 and as a result thereof the assessment orders were reframed under Section 143(3) read with Section 147 on March 28, 2003. 5. Meanwhile, on 20/3/1996 the Assessing Officer received a communication from A.D.I.T. along with zero copies of books allegedly belonging to M/s ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing Officer passed second reassessment order under Section 143(3) read with Section 147 on 30/3/1998. On appeal, the CIT (Appeals) quashed the reassessment order by holding that initiation of proceedings under Section 148 was bad. That conclusion has been upheld by the Tribunal vide order under appeal. 7. Having given our careful consideration to the facts and circumstances of the case and the su....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....quently, second reassessment proceedings become infructuous as the orders can be passed on the basis of available material including information received later on while finalising the proceedings under Section 143(3) read with Section 147 in pursuance of the reassessment proceedings commenced earlier to one in question. While the first reassessment proceedings were pending, there cannot be second ....