PRINCIPAL COMMISSIONER OF INCOME TAX 9 KOLKATA vs. P L GOENKA HUF

Accordingly, the appeal filed by the revenue is allowed and the substantial

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

144B of the Act. Before the learned Tribunal the assessee contended that the assessing officer has only acted on the information received from the investigation wing and has not recorded his satisfaction nor did any exercise to examine the transactions done by the assessee before recording the reasons for reopening. The learned Tribunal did not go into the merits