2021 (4) TMI 1098

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....an For the Respondent : Mr.A.P.Srinivas ORDER Heard Ms.Durgasri, learned for Mr.V.Veeraghavan,, learned counsel for the petitioner and Mr.A.P.Srinivas, learned Senior Standing Counsel for the revenue. 2. The impugned order of assessment, passed in terms of the provisions of Section 147 read with Section 143(3) of the Income Tax Act, 1961, is dated 30.12.2019. When the matter came up fo....

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.....04.2019. 4. On 08.11.2019, a show cause notice was issued, once again calling upon the petitioner to file a response to notice under Section 148 of the Act. Under reply dated 28.11.2019, again filed before the Office of the Additional/Joint Commissioner of Income Tax, the petitioner reiterated the supply of reasons. 5. On 26.12.2019, reasons have been furnished and on the same d....

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....t 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 assessing officer 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 assessing officer is bound to dispose of the same by passing a speaking order. In the instant ....

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....fts V. ITO (259 ITR 19) where in conclusion, the Bench states as follows: We see no justifiable reason to interfere with the order under challenge. However, we clarify that when a notice under Section 148 of the Income tax 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 assessing officer is bound t....