2017 (1) TMI 444

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t Appellate Authority and is being raised before this Tribunal for the first time. 3. The ld. AR at the outset, submitted before us that the issue being raised for the first time before the tribunal as the same could not be raised before the FAA due to inadvertence. The ld AR submitted before the bench that the issue being legal in nature and goes to the root of the matter and therefore, the Tribunal is well within its jurisdiction to entertain this additional ground as being of legal in nature and adjudicate the same as per provisions of Act. 4. We have heard the rival contentions and perused the material placed before us including the ground No.1 raised by the assessee which is reproduced below: "1. On the facts and in the circumstanc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../-. 7. The ld. AR submitted before us that since the return of income was filed on 12.2.2009 and no notice under section 143(2) of the Act was issued which could have been issued under the provisions 143(2) of the Act up to six months from the end of financial year in which the return of income filed by the assessee i.e. upto 30.09.2009 . However, no such notice was issued and therefore, the return filed by the assessee had attained finality. In other words, the ld. AR submitted that the assessment had attained finality on the date of search and therefore any addition could be made in case of assessment which had attained finality only with regard and reference to the seized incriminating documentary material during search. The ld. AR subm....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s conducted on 18.2.2010. Now, the issue before us whether the assessment for the year under consideration has attained finality on the date of search or abated in terms of provision of section 153A of the Act. According to the said provisions the AO shall make the assessment in respect of six preceding years prior to the financial year during which the search is conducted. It is further provided in the said section that the assessment which are pending on the date of search shall abate, the AO has same powers to make assessment as he has powers under section 143(3) of the Act and each and every issue is open to be examined by the AO during the course of assessment proceedings. Whereas in respect of those years which have attained finality ....