2016 (10) TMI 1034

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....valid". 2. In the process, the ld.CIT(A) failed to take judicial notice of provisions of section 251 of the I.T.Act, wherein, it has been laid down that in an appeal against the order of assessment, the CIT(A) may confirm, reduce, enhance or annul the assessment. The ld.CIT(A) has no powers to declare the assessment "invalid". 2. The relevant facts as culled out from the materials on record are as under:- 2.1. Assessee is a company stated to be engaged in the business of purchase and sale of shares. Assessee electronically filed its return of income on 30/09/2008 declaring total income at Rs. 31,879/-. The case was selected for scrutiny and thereafter assessment was framed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to ....

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....regard it was submitted that the case of the assessee has been transferred to the undersigned by ITO Ward-4(1), Baroda consequent to the centralization order passed by the CIT-II, Baroda on 29.0-9.2011. The issue regarding service of the notice u/s.143(2) of the I.T.Act, 1961, has been remanded to the undersigned. In this regard, it is submitted that a notice was issued to the assessee-company on 29/09/2009 at the address recorded by the assessee in its return of income filed for the relevant assessment year vide speed post No.BDQ/BDR-BNPL-161/21-4 dated 30/09/2009. However, the acknowledgement of the same is not available on record. Accordingly, the matter was taken up with ITO, Ward-4(1), Baroda. The ITO vide its letter dated 08/02/2012 h....