Reassessment without speaking order against objections raised by assessee is invalid

ACIT Vs Muktha Shantiniketan Properties (ITAT Chennai) It is an undisputed fact that the assessee has raised objection for reopening of assessment and the Assessing Officer has not passed any speaking order in respect of the objections raised by the assessee. It is contrary to the decision of the Hon’ble Supreme Court in the case of GKN Driveshafts (India) Ltd. v. ITO (supra), wherein, the Hon’ble Supreme Court has directed as under: “… However, we clarify that when a notice under section 148 of the Income-tax Act is issued, the proper course of action for the notice is to file ret...