TaxTMI 
TaxTMI 
2008 (1) TMI 206
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....return of income for the assessment year 1994-95 declaring income of Rs. 46,530. It appears that certain tax evasion petitions were received against the petitioner-assessee, therefore, enquiries were got conducted by the Assessing Officer and on the basis of the information gathered during the enquiries, for the reasons recorded in writing, the Assessing Officer, after seeking approval of a competent authority, initiated reassessment proceedings under section 147 of the Act of 1961 against the petitioner-assessee, by issuing notice under section 148 of the Act of 1961. In pursuance of the notice, the assessee filed return on June 12, 2000, declaring the same income, i.e., Rs. 46,530 as returned on April 2, 1996. The reassessment proceedings....
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....s objections by passing a speaking order and, thereafter, if it so required, he may proceed to frame the reassessment orders as per law. The Assessing Officer should not repeat the same assessment orders and has to pass reasons orders." 3. In compliance with the directions issued by the learned Income-tax Appellate Tribunal, vide order dated August 18, 2006, as aforesaid, the certified copy of the reasons for issuing notice under section 148 of the Act of 1961 for the assessment year 1994-95, was supplied by the Assessing Officer to the petitioner-assessee, vide communication dated July 3, 2007 (annexure 5). On receipt of the reasons, vide communication dated July 17, 2007, the petitioner-assessee apprised the Assessing Officer that from....
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....he reasons recorded for initiating reassessment proceedings for the assessment year 1994-95. It appears that the petitioner-assessee made further request for adjournment for a period of one month which was rejected by the Assessing Officer, vide communication dated November 5, 2007. 5. It is contended by learned counsel that in view of the admission of the Assessing Officer, vide communication dated October 26, 2007, that no order-sheets are maintained/available, the reassessment proceedings shall be deemed to have been initiated without recording the reasons prior to issue of notice. Learned counsel further submits that non-availability of the petitioner's statement said to have been recorded by the inspector who has submitted the repor....
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.... the petitioner-assessee by the Assessing Officer. Even the documents demanded by the petitioner-assessee available on record have already been supplied to him and regarding the remaining documents the factual position stands clarified by the Assessing Officer. It is to be noticed that the reassessment proceedings have been initiated by the Assessing Officer for the reasons recorded in writing, placed on record as annexure 5. It is not understandable as to how on the basis of non-availability of a few documents demanded by the petitioner-assessee, the reassessment proceedings initiated for the reasons recorded in detail can be held to be illegal. Moreover, the interest of the petitioner-assessee stands sufficiently safeguarded by the learne....