TaxTMI 
TaxTMI 
2021 (9) TMI 352
X X X X Extracts X X X X
X X X X Extracts X X X X
....delivered to speed post counter Kolkata on 02.04.2012; as such the entire reassessment proceeding is bad in law and time barred. C. Because the Ld. CIT(A) has erred in not considering that original assessment order dated 18.12.2007 was framed u/s 143(3) and the assessee has disclosed material facts fully and truly, as such the A.O ought to have not taken action against the assessee u/s 147 after 4 years; the reassessment proceedings in View proviso to section 147 is wholly illegal and liable to quashed/set-aside. d. Because the Ld. CIT(A) has not took note of the fact that notice of demand with the invalid assessment order is erroneous and wrong since the A.O not given effect to the rectification application of the assessee u/s 154. e. Because the CIT(A) has failed to consider that while computing book profit u/s 115JB and consequent tax liability, A.O has failed to give effect to unabsorbed deprecation Rs. 65,33,170/- and carried forward of losses to the extent of Rs. 20,57,932/- as claimed by the appellant. f. Because the CIT(A) has dismissed the appeal in a cursory manner without considering the Contentions raised in memorandum of appeal and a....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub- section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year." 5. As per the above reproduced provisions of section 147 of the Act, if an assessment has been completed by way of scrutiny proceedings u/s 143(3) of the Act then the reopening of the assessment cannot be made after the expiry of four years from the end of the relevant assessment year unless there is a case that any income of the assessee has escaped assessment because of the failure of the assessee to disclose fully and truly all material facts necessary for assessment. 6. Now, the case of the assessee is that the relevant assessment year under consideration, A.Y is 2005-06 and that the notice u/s 148 of the Act would have been issued to the assessee before the lapse of four years i.e. by 31.03.2010. That however, the notice u/s 148 of the Act, in this case, was delivered to the post-office on 2nd April 2012 i.e. after a period of six years which was time-barred. The ld. co....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ecord before the Bench and furnish the copy of the reasons recorded for reopening of the assessment. She submitted that in case the Revenue fails to furnish the copy of the reasons recorded for the re-opening of assessment, the Tribunal may decide the issue in accordance with law. The case is adjourned to 01.04.2021." 9. Further, our attention has been invited to the letter dated 01.04.2021 in this case which for the sake of ready reference is reproduced as under: "The ld. DR request for one more last opportunity to produce the assessment record and to furnish the reason for re-opening to the assessee. The ld. counsel for assessee strongly objects and request the Bench to hear her arguments and draw adverse inference and decide the issue as per law. Last opportunity to Revenue. No further adjournments. Adjourned to 03/05/2021." 10. A perusal of the above orders of the Tribunal would show that the assessee from the very beginning has contested the very validity of the reopening of the assessment on the ground that there was no justifiable reason for the Assessing Officer to reopen the assessment in this case. 11. Considering the submissions of the assessee and to a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ta 4th Floor, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 PAN NO.: AABCG0137G Dated: 20.02.2019 REG: COPY OF REASONS RECORDED FOR ISSUANCE OF NOTICE U/S 148 OF THE ACT FOR THE A.Y. 2005-06 REF: IN APPEAL NO. ITA 2318/Kol/2017 FOR THE A.Y. 2005-06 Respected Sir, In continuation to our letter dated 13.02.2019 which was filed before your honour in respect of above appeal. We as desired by your honour, have deposited Fee of Rs.500/- online with IDBI Bank Limited, Kanpur on 20.02.2019 vide Challan No.10838 (BSR Code 6910333 ) for obtaining certified true copy of reasons recorded. In evidence photocopy of receipted challan issued by IDBI Bank Limited and photocopy of letter dated 13.02.2019 duly acknowledged from your office is being enclosed for your kind perusal and record. In view of the above submissions and clarification it is to request you, Sir, to kindly provide the certified true copy of the reasons recorded for issuance of notice u/s 148 of the Act for the Asstt. Year 2005-06 as directed by Hon'ble Bench of ITAT Kolkata at the earliest and oblige. Hoping to receive your prompt attention. Thanking you,....