Reassessment without disposing of assessee’s objections by separate order makes jurisdiction of AO ultra-vires in law

Fomento Resorts & Hotels Ltd Vs ACIT (Bombay High Court) Conclusion: Since AO had purported to assume the jurisdiction for reopening of assessment, without having first disposed of assessee’s objections to the reasons by passing a speaking order, therefore, failure to follow the procedure renders the assumption of jurisdiction by AO ultra vires in law. Held: In the present case, assessee-company lodged their objections and requested AO to dispose of such objections by passing a speaking order before proceeding with the reassessment in respect of the Assessment Year 1997-98. However, AO ,...