2004 (8) TMI 19

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....equisite notice and instead of annulling the order of the Income-tax Officer?" Briefly stated, the facts giving rise to the present reference are as follows: The respondent-assessee is a firm and was assessed as a registered firm up to the assessment year 1964-65. For the assessment year 1965-66, a declaration in Form No. 12, as required by section 184(7) of the Act, was filed. In the course of the assessment proceedings, the assessee, however, did not comply with the notice under section 143(2) of the Act, therefore, the Income-tax Officer while making the assessment under section 144 of the Act, held that, since the assessee failed to produce the account books, it is not known whether the books of account have been maintained and, i....

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....He further submitted that even if the required notice of 14 days was not given, the Tribunal instead of granting registration, ought to have remanded the matter back to the assessing authority for complying with the requirement of notice. Section 186(2) of the Act, as it stood during the relevant period, is reproduced below: "(2) If, where a firm has been registered or is deemed to have been registered or its registration has effect under sub-section (7) of section 184 for any assessment year, there is, on the part of the firm, any such failure in respect of the assessment year as is mentioned in section 144, the Assessing Officer may cancel the registration of the firm for the assessment year, after giving the firm not less than four....