In case of reassessment AO is bound to give reasons and dispose of assessee’s objection by passing speaking order

HIGH COURT OF KERALA Alappat Jewels Versus Assistant Commissioner of Income-tax WA NO. 1706 OF 2012 JANUARY 9, 2013 JUDGMENT K.M. Joseph, J. – Appellant is the writ petitioner. It is a partnership firm engaged in jewellery business. There was a survey conducted under Section 133A by the Income Tax Department in the appellant’s premises on 01.02.2006. A statement of confession on additional income was recorded from the Managing Partner wherein he admitted certain irregularities in the Books of Account, and that unaccounted investments were made. He offered an income...