Re-opening being exceptional power, revenue to comply pre-requisite condition of ‘reasons’ strictly

Brief of the Case In the case of Muller & Philpps (India) Ltd vs. ITO, Hon’ble ITAT Mumbai held that the position of law is clear. It has been held by Hon’ble Supreme Court in the case of GKN Driveshaft 259 ITR 19, that it is mandatory on the part of the AO to provide the copy of the reasons to the assessee and to meet the objections filed by the assessee thereto, if any, before the AO can frame the reassessment order.  Facts of the Case In the present case, the assessee filed an appeal against the assessment order passed u/s 143(3) r.w.s. 147 of the Act alleging the re-opening as bad...