2020 (1) TMI 1703

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.... made on merits. 3. I have heard Sh. Somnath Ghosh, ld. Counsel for the assessee and Sh. Jayanta Khanra, ld. DR on behalf of the Revenue. On a careful consideration of the facts and circumstances of the case, perusal of the papers on record and the orders of the authorities below, as well as case law cited, I hold as follows. 4. I first take up the issue of re-opening. Reasons for re-opening as extracted by the AO at page 1 & 2 of his order are extracted for ready reference: "As per information received from DDIT(lnv) Unit-2(2),Kolkata vide F.No.DDIT(lnv)/Unit2(2)/Kol/STR/2016-17/1715 dt.06.03.2017, it appears that Sri Asit Kumar Patra (PANAJGPP9385A) Prop of M/s Kalpana Trading maintained a Bank account N0.090105500027at ICICI Bank, in....

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.... conclusion that the approval given in form for recording reasons in ITNS10 at Column 14 was a mechanical approval. No proper satisfaction is recorded by the Pr. CIT-8, Kolkata. The Hon'ble Delhi High Court in the case of PCIT vs. N.C. Cables Ltd. [2017] 391 ITR 11 (Delhi) dtd. 11.01.2017 at para 11 states as follows: "11. Section 151 of the Act clearly stipulates that the CIT (A), who is the competent authority to authorize the reassessment notice, has to apply his mind and form an opinion. The mere appending of the expression 'approved' says nothing. It is not as if the CIT (A) has to record elaborate reasons for agreeing with the noting put up. At the same time, satisfaction has to be recorded of the given case which can be ref....