Mandatory section 143(2) notice in reassessment cannot be cured by participation or section 292BB.

A return filed in response to notice under section 148 must be treated as a return under the Act, and reassessment machinery requires a valid notice under section 143(2). The notice is mandatory in reassessment proceedings and goes to the very jurisdiction to complete the assessment. A notice issued beyond the prescribed time limit is ineffective in law, and the defect is not cured by the assessee's participation or by section 292BB, which does not extend the statutory period for issuing a mandatory notice. The reassessment was therefore held invalid and liable to be quashed.

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Issues: Whether reassessment framed pursuant to a return filed in response to notice under section 148 was invalid for failure to issue notice under section 143(2) within the prescribed time.

Analysis: A return filed in response to notice under section 148 is to be treated as a return for the purposes of the Act, and the machinery for completing the reassessment requires compliance with section 143(2). The notice under section 143(2) in reassessment proceedings is mandatory and goes to the validity of the assumption of jurisdiction. A notice issued beyond the statutory time limit is ineffective in law, and the defect is not cured by participation of the assessee or by section 292BB, which does not enlarge the period prescribed for issuance of a mandatory notice.

Conclusion: The reassessment was invalid for want of a timely notice under section 143(2), and the assessment was liable to be quashed.

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