2007 (4) TMI 258

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....T 1. We have heard learned counsel for the Income-tax Department. 2. Apparently a completed assessment was reopened under section 147(b) read with section 148 of the Income-tax Act, 1961. The reopening was upheld by the Tribunal by the order dated January 25, 1985. Subsequently, an application for rectification under section 254 of the Act was moved by the assessee upon which the Tribunal st....

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.... is vacated." 3. Now, the Tribunal has referred the following two questions in the form of this reference: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in recalling the order of the Tribunal dated January 25, 1985 ? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in holding that the I....

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....e determined in accordance with the words in which the "reason to believe" has been recorded by the Income-tax Officer. Apparently, the order of the Tribunal suggests now that there was nothing in the recorded "reasons to believe" to warrant the inference that the "reason to believe" was based upon the objections in the audit report. Thus, there was an error apparent on the record in the order dat....