2019 (3) TMI 318

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....filed his return of income for Assessment Year 20072008 in which he had included a sum of Rs. 51.96 lacs (rounded off) which was received by him on retirement from the said partnership firm towards his share in goodwill. Such return was accepted by the Assessing Officer under section 143 (1) of the Income Tax Act, 1961 (for short, 'the Act') without scrutiny on 24.3.2009. 3. The petitioner filed a revision application before the Commissioner of Income Tax on 6.9.2017 against the said order of assessment, and requested that the amount of Rs. 51.96 lacs be deleted from computation of his taxable income for Assessment Year 2007-08. In such revision petition, the petitioner had stated that intimation under section 143 (1) of the A....

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....e made within one year from the date on which the order in question was communicated to the assessee, or the date on which he otherwise came to know of it, whichever is earlier. As per our records, in your case intimation u/s 143 (1) was served on 29/03/2009, a copy of which is enclosed to this letter. Therefore, as Revision Petition is not filed in time, the same is not maintainable under provisions of Sec.264. Therefore, the Revision Petition is disposed of as dismissed." 5. Learned counsel for the petitioner submitted that intimation under section 143 (1) of the Act, was never served on the petitioner and that therefore, the Commissioner of Income Tax was not correct in holding, that the revision application was filed beyond the perio....