Income Tax Reassessment without supplying reason is Invalid

Banwari Lal Pareek Vs ITO (ITAT Jaipur) ITAT held that recording of reasons before initiation of reassessment proceedings and communication thereof to the assessee is sine qua non that goes to the root of the matter and confers or deprives the assessing authority of the jurisdiction to undertake such reassessment proceedings, as the case may be. In the present case, admittedly such reasons were not supplied to the assessee during the contemporary period before going ahead with the reassessment proceedings. Therefore, in our view, the reassessment proceedings initiated and consequential order p...