TaxTMI 
TaxTMI 
2017 (8) TMI 724
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....f manufacture and sale of Centrifuged Latex. The assessment for the year 2005-2006 was completed under Section 143(1) of the Income Tax Act, 1961 and that was reopened under Section 148 of the Act on the ground that in computing the net profit under Section 115 JB, Rs. 81,47,859/- was reduced in the agricultural income. According to the Assessing Officer, Rs. 81,47,859/- represented as unrepresented liability and, therefore, could not have been reduced. Overruling the objections of the assessee, assessment order was passed under Section 148, a copy of which is Annexure K. This order was confirmed by the Commissioner of Income Tax (Appeals) whose order is Annexure L. The assessee carried the matter in appeal to the Tribunal and the appeal wa....
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....it and Loss Account other than Rs. 5,228/- included in the other income. 6. The reasons recorded by the Assessing Officer to reopen the assessment and to complete it under Section 147 was communicated to the assessee and the assessee filed its objections as per Annexure C justifying reduction in the net profit. Subsequently, notice under Section 148 was issued on 11.7.2007 and the assessee filed its reply on 10.9.2007. It would also appear that in the meanwhile, in response to the notice under Section 148 requiring the assessee to furnish its return, the assessee by its communication dated 13.7.2007 informed the Assessing Officer that the return filed by it on 29.10.05 and on 11.7.2007 be treated as its return under Section 148. 7. Subseq....
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....ntention to that effect. However, it appears that during the course of hearing, argument to that effect was raised and the Tribunal rejected the same taking note of the notices that were issued to the assessee, the opportunities afforded to them and holding that non adherence to the prescribed rule or mode of proceedings, would not make the assessment orders null and void. It was, accordingly, the appeal of the assessee was rejected by the Tribunal. 9. Section 147 of the Income Tax Act provides for assessment of income escaping assessment. Such assessment has to be in terms of Section 148, which provides for recording of reasons and issue of notice where income has escaped assessment. This Section, inter alia, provide that before making an....
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.... order. While in this context, it is relevant to take note of the Division Bench judgment of this court in K.J.Thomas v. Commissioner of Income Tax [2008] 301 ITR 301 [Ker], where a Division Bench of this court has held thus: "The appellant himself had produced annexure A-I which is the reply filed by him pursuant to the details called for by the Assessing Officer. It is seen from annexure A-I that the entire questions raised and considered in the reassessment was answered by the assessee. However, the assessee has written in paragraph 7 of the said reply that he was not issued any notice under Section 143(2) of the Act. In the normal course, a detailed reply in this nature is furnished only after issuing a notice under section 143(2) of ....