2019 (4) TMI 1787

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....s the assessment order was passed without complying with the mandatory conditions of section 147 to 151 of the Income Tax Act, 1961 and without recording valid reasons as per law and without obtaining valid approval as per law and in any case reopening of the assessment and framing of the reassessment order was contrary to law. 2) That in any view of the matter and in any case, action of Ld. CIT(A) in confirming the action of Ld. AO in reopening of the impugned assessment u/s 143(3)/l47 is bad in law and against the facts and circumstances of the case. 3) That in any view of the matter and in any case, action of Ld. CIT(A) in confirming the action of Ld. AO in passing the impugned assessment order u/s 143(3) / 147 even tho....

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....3. In ground nos. 1 to 3 of the appeal, the assessee has challenged the reopening of assessment made u/s 147 of the Act on the ground that it is without recording valid reasons and without obtaining valid approval. 4. I have heard the rival submissions and perused the orders of the lower authorities and material available on record. In the instant case, notice u/s 148 of the Act was issued to the assessee by the Assessing Officer by recording the following reasons: "Reason for initiation of proceedings under section 147 of the Income Tax Act, 1961: As per AIR/CIB information available with this office, the assessee has deposited cash amounting to Rs. 52,00,000/- in her saving bank account during the financial year 2009-....

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....Vs N. C. Cables Ltd. reported in (2017) 98 CCH 10 (Del. HC) has held the mere appending of the expression "approved" says nothing, Commissioner of Income Tax has to record elaborate reasons for agreeing with the noting put up, and at the same time, satisfaction has to be recorded of the given case which can be reflected in the briefest possible manner. Hence, he prayed that the reassessment notice was bad in law on the above two counts and therefore, consequential reassessment order passed u/s 147 of the Act was unsustainable and requires to be quashed. 8. The Departmental Representative supported the order of the Commissioner of Income Tax (Appeals). 9. After considering the rival submissions and perusing the orders of the lower auth....