2020 (3) TMI 884

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....r. Standing Counsel for the appellant. AJAY TEWARI, J. (Oral) [1] This appeal has been filed under Section 260A of the Income Tax Act, 1961 [for brevity 'the Act'] against the order dated 11.05.2018 passed by the Income Tax Appellate Tribunal, New Delhi, whereby appeal filed by the assessee was allowed. The assessment year involved is 2011-12. [2] Brief facts of the case are that ....

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....r submitted any objection against validity of notice u/s 148 of the Act as per guidelines contained in decision of Hon'ble Supreme Court in the case of M/S GKN Driveshafts (India) Ltd. Vs. Income Tax Officer 259 ITR 19 (SC) before Assessing Officer before completion of re-assessment proceedings? B. Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was jus....

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....ciating the fact that the assessee himself had admitted long terms capital gain on sale of such land in the return filed u/s 148 and it was a capital asset?" [4] The primary question which has to be decided is Question A. [5] We find that the order of the Tribunal is correct. The mere fact that reasons exist on the file cannot sanctify them and the only way to ascertain whether the requireme....