Reassessment without disposing assessee’s objections by a speaking order is invalid

ITO Vs ICFAI University (ITAT Delhi) There is no dispute that the Assessing Officer has not dismissed the objections of the assesssee by any speaking order. This is clearly in violation of the ratio laid down by the Hon’ble Supreme Court in the case of M/s. GKN Drivesharfts (supra) wherein the Hon’ble Supreme Court clearly laid down that where the notice u/s. 148 was issued and the assessee filed objections. The Assessing Officer was bound to dispose of the same by a speaking order. Assessing Officer who is bound to decide the preliminary objections to issuance of the reassessment notice b...