Reopening of assessment before disposing of objections filed by assessee is unsustainable

Advertisement General Electric Company Vs ADIT (ITAT Mumbai) ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by the assessee is unsustainable and bad-in-law. Facts- General Electric Company is a company incorporated in the United States of America (USA). The assessee filed its return of income for the assessment year under consideration on 29 October 2001 declaring the total income of Rs.3,07,33,0901- as Royalty/Fee for technical services and income from other sources. The assessment proceedings was completed u/s. 143(3) of the Act wherein the return...