GOLDEN FLAME STEELS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

This appeal is preferred by the assessee against the order dated 13.02.2013 passed by the ld. CIT(A)-VIII, New Delhi for assessment year 2000-01. The appeal is against the action of the ld. CIT(A) in upholding the reassessment proceedings completed u/s 144/147 of the Income Tax Act, 1961 (hereinafter referred to as "the Act").

At the outset, the ld. AR submitted that the assessee had objected to the initiation of the reassessment proceedings before the Assessing Officer but the Assessing Officer had not disposed of the objections raised by the assessee in this regard. He drew our attention to the reply filed by the assessee before the Assessing Officer in response to the notice issued u/s 148 of the Act and submitted that the Assessing Officer had not passed a speaking order on the objections raised by the assessee. It was further submitted that the ld. CIT(A) had also not adjudicated this issue which was raised specifically before the ld. CIT(A) in the grounds of appeal. He drew our attention to page 2 of the impugned order wherein this ground was specifically raised before the ld. CIT(A). The ld. AR submitted that non-disposal of the objections by passing a speaking order by the Assessing Officer was a clear violation of the directions of the Hon’ble Apex Court in the case of GKN Driveshafts (India) Ltd. vs ITO (2003)

Accordingly, in view of the agreement of both the parties, we restore the issue to the file of the Assessing Officer with the direction to dispose of the objections of the assessee with regard to initiation of reassessment proceedings by passing a speaking order.

In the result, the appeal of the assessee stands allowed for statistical purposes.