Completion of reassessment without issue of reasons is invalid: HC

Brief of the Case In the case of CIT v Trend Electronics, Hon’ble High Bombay Court held that before issuance of reopening notice for assessment, the Revenue have to furnish the reasons for it. Otherwise, the notice will be considered as bad in Law. Facts of the Case The Assessing Officer initiated reassessment proceedings by issuing notice under Section 148 of the Act seeking to reopen the assessment. The assessee by a letter tried to get the copy of recorded reasons for reopening of assessment. In the reply to the assessee’s letter, the ld. AO directed the assessee to file it’s ret...