TaxTMI 
TaxTMI 
2012 (4) TMI 656
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....tion of `.13.5 Lacs u/s.68 and bogus interest expenses of `.3,68,958/- and `.3,300/- u/s.69C, when the assessee had failed to discharge his onus in conclusively proving that creditworthiness of donor and genuineness of transaction. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) while relying on the statement of the lender, affirming the loan failed to considered the documents and other corroborative evidences found during the search at Shri Khemchand Shah. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in accepting the retraction of Shri Khemchand Shah, alleged leader after a gap of 7 years, from his statement on oath recorded at the time of search. 4. Further,....
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....urisdictional High Court in the case of B.R. Bamasi vs. CIT reported in (1972) 82 ITR 223 (Bom.) on the same facts and circumstances and on similar additional ground. 4. On the other hand, The CIT DR vehemently opposed the admission of additional ground, as the same was neither raised before the Assessing Officer, nor before the CIT(Appeals) and it does not even arise out of the orders of the authorities below. He contented that Rule 27 is applicable only when any ground has been decided against the respondent and not otherwise. Alternatively, he argued that in view of the provisions of section 292BB, no objection regarding the validity of notice can be raised at this stage. In support of his contention, he relied upon the judgment of Ho....
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....n 28.02.2003 requiring the assessee to file the return of income for the block period. In response to the said notice, the return was filed on 19.05.2003 declaring the undisclosed income for the block period at "Nil". From a perusal of para 4 of the assessment order, it is seen that the Assessing Officer has mentioned, that notice u/s.143(2) and 142(1) were issued to the assessee. During the course of the hearing, it was clarified before the Bench by the learned AR that it is a matter of record that the notice u/s.143(2) has been issued beyond the period of 12 months from the end of the month in which the return was filed. i.e. 19.05.2003. The learned Sr. DR has also not disputed this fact and admitted that the notice u/s.143(2) has been is....
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.... provided it is a ground of law and does not necessitate any other evidence to be recorded, the nature of which would not only be a defence to the appeal itself, but may also affect the validity of the entire assessment proceedings. If the ground succeeds, the only result would be that the appeal would fail. The acceptance of the ground would show that the entire assessment proceedings were invalid, but yet the Tribunal which hears the appeal would have no power to disturb or to set aside the order in favour of the appellant. That order would stand and would have full effect in so far as it is against the respondent. The ground would serve only as a weapon of defence against the appeal. Hence, the refusal of the Tribunal to allow the assess....
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....defend the order of CIT(Appeals) on any other ground which has been considered by the CIT(Appeals). 6.3 Here the legal issues which have been raised goes to the very validity of the assessment on the ground of limitation of issuing the notice within a specific time limit provided under the Act. Section 143 (2) enables the Assessing Officer to scrutinize the return and to vary the return income after giving opportunity to the assessee. Proviso to Section 143 (2) puts a limitation of time for serving such notice. The relevant provision under Section 143(2) and proviso thereto, as it is stood therein, is reproduced herein below :- "(2) Where a return has been made under section 139, or in response to a notice under sub-section (1) of sec....
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.... notice which deserves to be admitted as it is a legal mandate upon the court to deal and decide the issue of limitations, if it has been raised by any of the parties at any stage, even though it was not raised or considered earlier by any of the authorities below. Moreover, for adjudication of this issue, no investigation of issuance or service of notice is required as there is no dispute with regard to the timing of issuance and service of notice. Hence, the same is admitted for the purpose of adjudication of the present appeal. The point in issue is also squarely covered by the judgment relied upon by the learned AR in the case of ACIT vs. M/s. Ray Construction (supra), wherein the Hon'ble ITAT after taking due note of B.R. Bamasi's ....