TaxTMI 
TaxTMI 
2017 (6) TMI 86
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....entical and the legal questions arising in all appeals are common, it is considered appropriate to deal with the facts as stated in the appeal concerning assessment year 2007-08 and to decide the legal controversy on the basis of the facts pertaining to the said appeal. The case of the assessee respondent for the relevant assessment year was selected for scrutiny. On the basis of the information received from DIT (Investigation) regarding accommodation entries provided to the respondent assessee by some dummy/paper companies which actually had no existence, the respondent assessee was given notice dated 25.3.2013 under Section 148 of the Income Tax Act, 1961 (In short of the Act). Accordingly, an order of revised assessment was passed by....
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....otice under Section 148 of the Act when there was no challenge to it before the Assessing Officer or the CIT (Appeals) by way of any objections; 2) Whether the tribunal is justified in setting aside the assessment order as confirmed by the Commissioner of Income Tax, Appeals holding the notice to be bad and assessment illegal only for the reason that the objections to the notice were not decided; and 3) Whether the tribunal could have allowed the appeal of the assessee respondent despite the fact that the person in whose name the entries appear in the books has not offered any explanation about the source of such entry in utter disregard to Section 68 of the Act. Section 147 of the Act provides for reassessment of the a....
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....it for the first time. Their Lordships of the Supreme Court held that in view of Section 245 of the Act the power of the tribunal in dealing with the appeal is expressed in the widest possible terms. There is no reason to restrict the power of the tribunal only to decide the grounds raised or taken against the order of the CIT (Appeals) and that the assessee should not be prevented from raising question before the tribunal for the first time so long as the relevant facts are on record in respect of it provided opportunity of hearing is given to the other party on the new aspect so raised. In short, the Apex Court held that the tribunal has jurisdiction to decide question of law which had been raised before it for the first time provid....
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....ave remained undecided. The Chartered Accountant of the assessee respondent has also certified that at the time of preparation of the grounds of appeal by oversight he could not raise the ground disputing validity of the notice under Section 148 of the Act though objections to the notice were duly filed before the Assessing Officer. The above certificate of the Chartered Accountant clearly establishes that on behalf of the assessee respondent objections were filed against the notice issued under Section 148 of the Act. However, there is nothing on record to establish that the said objections were decided. Section 151 of the Act which provides for sanction of the higher authority for initiation of proceedings for reassessment in the....