Reassessment set aside as objections not dealt in accordance with GKN Driveshafts principle

Kausalya Maruthachalam Vs Additional/ Joint/ Deputy/ ACIT (Madras High Court) Madras High Court held that in re-assessment proceedings the objections of assessee should be dealt in accordance with GKN Driveshafts principle. Here, all the proceedings are set aside since the GKN Driveshafts principle has not been strictly adhered to. Facts- Post search proceedings under section 153C of the Income Tax Act, an assessment order u/s. 143(3) dated 24.12.2009 was passed. Post some further proceedings, assessment order u/s. 143(3) r.w.s 147 was passed on 23.12.2011. Thereafter, the writ petitioner was ...