2020 (10) TMI 1171

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..... Ms. Amira Abdul Razaq, Standing Counsel for the Respondent. ORAL JUDGMENT : - (Per M.S. Sonak, J.) Heard Mr. D. Robinson for the Appellant and Ms. Amira Razaq, Standing Counsel for the Respondents. 2. On 18th August, 2016, this Appeal was admitted on the following substantial question of law : Whether the Tribunal was justified to remand the matter to the Assessing Officer w....

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....sessing Officer (AO), in doing so, acted contrary to the ruling of the Hon'ble Supreme Court in GKN Driveshafts (India) Ltd. vs. Income Tax Officer & ors. (2003) 1 SCC 72. He submits that in virtually identical circumstances, the Division Bench of this Court in CIT vs. Videsh Sanchar Nigam Ltd. [2012] 340 ITR 66 (Bom).  has held that the assessment order in such circumstances is required ....

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....pen the assessment and make assessment order. 7. In GKN Driveshafts (India) Ltd. (supra), the Hon'ble Apex Court has held that when a notice under Section 148 of the IT Act is issued, the proper course of action for the noticee is to file return and if he desires to seek reasons for issuing notice, the AO is bound to furnish reasons within a reasonable time. On receipt of reasons, the notic....

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....ld that though reopening of the assessment was within three years from the end of the relevant assessment year, since, the reasons recorded for reopening of the assessment were not furnished to the Assessee till completion of the assessment, reassessment order cannot be upheld. The Division Bench noted that the special leave petition filed by the Revenue against the decision of this Court in Fomen....