2016 (11) TMI 968

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....y Lal, Learned ORDER Challenging the show-cause notice Annexure P-1 dated 2.6.2015 issued to the petitioner under Section 148 of the Income Tax Act, 1961, on the ground that the notice had been issued beyond the period prescribed, i.e. notice should have been issued on or before 31.03.2013, whereas it has been issued on 2.6.2015 beyond the period prescribed and, therefore, the notice cannot ....

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.... Shri Sanjay Lal, learned counsel for the respondents invites our attention to the observations made by the Supreme Court in para 5 of the judgment rendered in the case of GKN Driveshafts (India) Ltd. (supra) and argued that the objection raised by the petitioner, particularly the objection vide annexure P-5 is yet to be decided and as his objection has not been decided, interference of this cou....

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....ction 148 of IT Act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing notices. The AO is bound to furnish reasons within a reasonable time. On receipt of reasons, the noticee is entitled to file objections to issuance of notice and the AO is bound to dispose of the same by passing a speaking order. In the instant case, as the....