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[2008] 305 ITR 161 (PUNJ. & HAR.) HIGH COURT OF PUNJAB AND HARYANA Commissioner of Income-tax v. Rajindra Rosin & Turpentine Industries ADARSH KUMAR GOEL AND RAJESH BINDAL, JJ. ITR NO. 11 OF 1991 NOVEMBER 1, 2006 Section 148 of the Income-tax Act, 1961 - Income escaping assessment - Issue of notice for Recording of reasons is a condition precedent to invoke jurisdiction under section 147/148 Recording of reasons is a condition precedent to invoke jurisdiction under section 147/148. Thus, the Tribunal was justified in annulling the assessment made by the Assessing Officer pursuant to notice under section 148 on the ground that since reasons were not available on the file, it could not be ascertained whether reopening of the assessment was on account of reconsideration of the same material or in consequence of some information in its possession. Dr. N. L. Sharda for the Commissioner. JUDGMENT The following question of law has been referred for the opinion of this court by the Income-tax Appellate Tribunal, Delhi Bench "C", Delhi, arising out of its order dated January 30, 1990, in I. T. A. No. 1034/Delhi of 1988 in respect of the assessment year 1979-80 : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in annulling the assessment made by the Income-tax Officer ?" Original assessment in the case of the assessee was framed on March 31, 1981. Notice for reassessment was issued on the ground that income had escaped assessment on account of the assessee having entered lesser closing stock. This view was upheld by the Commissioner of Income-tax (Appeals). The Tribunal, however, accepted the appeal of the assessee on the ground that the Assessing Officer failed to record reasons for initiating proceedings for reassessment. It was held that since reasons were not available on the file, it could not be ascertained whether reopening of the assessment was on account of reconsideration of the same material or in consequence of some information in its possession. Recording of reasons is a condition precedent to invoke jurisdiction under section 147/148 of the Income-tax Act, 1961. Reliance was placed on a…

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