2023 (8) TMI 87

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....t jurisdiction. Further, the petitioner has also challenged the validity of the notice issued under Section 148 read with Section 147 as regards the Assessment Year 2009-2010 and the communication dated 26.09.2016 rejecting the petitioner's objections. 2. Sri T.Suryanarayana, the learned Senior Counsel appearing on behalf of Smt. Tanmayee Rajkumar for the petitioner submits that the petitioner had filed its return on 30.09.2009 for the Assessment Year 2009-2010 alongwith all the other supporting documents. It is further borne out from the facts that on 29.03.2016, the notice under Section 148 came to be issued and in terms of the procedure prescribed, the petitioner had called upon the respondents for reasons recorded for reopening the....

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....ntents of the statement of objections. 7. Learned Senior Counsel appearing on behalf of the petitioner has relied on the judgment of Bombay High Court in the case of Hindustan Lever Ltd. v. R.B. Wadkar reported in [2004] 137 TAXMAN 479 (BOM.) 8. Heard both sides. 9. The Proviso to un-amended Section 147 reads as follows:- "Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under sect....

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....ng officer to form his opinion. It is for him to put his opinion on record in black and white. The reasons recorded should be clear and unambiguous and should not suffer from any vagueness. The reasons recorded must disclose his mind. Reasons are the manifestation of mind of the assessing officer. The reasons recorded should be self-explanatory and should not keep the assessee guessing for the reasons. Reasons provide link between conclusion and evidence. The reasons recorded must be based on evidence. The assessing officer, in the event of challenge to the reasons, must be able to justify the same based on material available on record. He must disclose in the reasons as to which fact or material was not disclosed by the assessee fully and ....