2015 (2) TMI 356

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....ondly, the Ld. CIT(A) has erred in deleting the addition of Rs. 50,80,000/- made u/s 68 of the Act on account of share capital being bogus/accommodation entry. 2. Ground No.1. In support of this ground, Ld. D.R. submitted that the notices u/s 148 and 143(2) were issued through speed post on the given address of the assessee available on record and those notices were not returned unserved. Hence, there was sufficient presumption of service of the above said notices upon the assessee. Without appreciating this material fact, the Ld. CIT(A) was not justified in holding that notices issued u/s 148/143(2) of the Act were not served upon the assessee and in absence thereof, the assessment framed was invalid. Ld. A.R., on the other hand, placed....

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....eceived by the assessee for the year under consideration with regard to the reassessment proceeding initiated by the AO u/s 148 and the impugned order u/s 147 passed ex-parte by the AO. Therefore, the reassessment proceeding is void ab initio. On the basis of inspection of the assessment record maintained by the AO, the Ld. AR submitted further that all the notices with regard to the reassessment proceedings were sent at the wrong address i.e. F-18, G-19, Geetanjili Enclave, Malviya Nagar, New Delhi, which is neither the new address nor the old address of the assessee as per the record available with the very same A.O. It was pointed out that the notice u/s 148 was issued on 28.03.2008 at the wrong address by which time, the new and correct....

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.... was very much available on the record of the Assessing Officer on which earlier notices u/s 143(2) dated 22.10.2007 and u/s 115WE(2) dated 22.10.2007 for AY 2006-07 were sent by the same AO and assessment u/s 143(3) was also framed by the same AO for the said AY 2006-07 showing the new address. It is now well established preposition of law that in absence of service of notices u/s 148/143(2) of the Act, the reassessment framed u/s 147 r.w.s. 143(3) of the Act will be null and void. Under these facts and circumstances, the Ld. CIT(A) was justified in holding the assessment impugned as null and void. This action of the Ld. CIT(A) is, thus, upheld. The Ground No.1, is accordingly, rejected. 8. Ground No.2. The AO made an addition of Rs. 50....