TaxTMI 
TaxTMI 
2018 (12) TMI 1073
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....can again proceed to make fresh reasstt. by starting the reasstt. Proceedings from the stage of receipt of objections as per the ratio of GKN Drive Shafts (Supra) and only thereafter, if the need remains, he will frame the fresh reasstt. Order as per law." 2. The brief facts of the case are that the assessee filed original return of income for the assessment year 2010-11 on 30.07.2010 showing income of Rs. 1,61,300/-. The Assessing Officer issued notice u/s 148 of the Act on 21.03.2017 for reopening of the assessment after recording the reasons for reopening of the assessment on 07.03.2017. The Assessing Officer in the reasons recorded has stated that the assessee has made cash deposit of Rs. 26,34,850/- in Saving Bank Accounts maintaine....
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....aside the matter to the Assessing Officer therefore, he deemed it appropriate to cancel the impugned assessment order. Thereafter he proceeded to direct the Assessing Officer that he can again proceed to make fresh re-assessment proceedings from the stage of receipt of objections and thereafter to dispose off the said objections as per the ratio of G.K.N. Drive Shaft (supra) and after disposing of the objections of the assessee and thereafter if need remain to reframe the fresh reassessment as per law. Being aggrieved by the order of the Commissioner of Income Tax (Appeals) the assessee is in appeal before me. 6. The contention of the Authorised Representative of the assessee is that since the reassessment order dated 08.12.2017 passed b....
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....and contended that rassessment order dated 08.12.2017 was bad in law and liable to be quashed as the same was passed by the Assessing Officer before disposing of the objections of the assessee. 9. The Commissioner of Income Tax (Appeals) though cancelled the reassessment order but further directed the Assessing Officer to commence the reassessment proceeding from the stage of receipt of objections by the assessee and to reframe the reassessment order after disposing of the objections of the assessee. 10. The contention of the Authorised Representative of the assessee is that this direction of the Commissioner of Income Tax (Appeals) is unsustainable because when the reassessment order is passed by the Assessing Officer without first d....
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..... (supra) had observed that the requirements regarding recording the reasons to believe; communicating the same to the Assessee; permitting the Assessee to file the objections; and passing a speaking order disposing of the objections are all designed to ensure that the AO does not reopen assessments, which have been finalized, on his mere whim and fancy and that he does so only on the basis of lawful reasons. It was further held that a deviation from the directions issued by the Supreme Court in G.K.N Driveshafts (India) Ltd.(supra) would entail nullifying the proceedings. Although the AO is required to provide reasons, receive objections and pass a speaking order thereon, only after the notice under Section 148 of the Act has been issued; ....