2022 (1) TMI 1088

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....yond a period of six months. The legal issue is raised by an application dated 29.03.2018 seeking admission of additional grounds as under: "4. The additions made by the DCIT to the extent of Rs. 26,83,80,898 and confirmed by CIT(A) is illegal and bad in law against the facts and circumstances of the case. 5. Since this being a regular scrutiny assessment for the AY 2012-13 under appeal herein, the learned DCIT ought to have followed the necessary provisions of the Act before concluding the assessment. 6. The necessary notice u/s 143(2) ought to have been issued before 6 months from the end of the FY in which the ROI was filed u/s 139 by the appellant. 7. In this case the return of income for AY 2012-13 was filed u/s 139 on 31/07/20....

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....d in the business of real estate. For year under consideration it filed its return of income u/s. 139 on 31.07.2012 declaring taxable income @ Nil (loss of Rs. 26,83,80,898/-. A search and seizure operation u/s. 132 was conducted in case of Shri Dayananda Pai and group on 12.04.2011 where the office premises of assessee was also covered. In response the notice u/s. 142(1) dated 30.07.2013, the assessee filed its letter dated 20.09.2013 submitted copy of the return filed on 31.07.2012. The Ld.AR submitted that 143(2) notice was issued to assessee on 17.10.2013 which is beyond the due date and therefore the assessment order passed is without jurisdiction. 3.1 The Ld.AR submitted that the return filed on 31.07.2012 was processed u/s. 143(1) o....

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....andatory notice and is to be issued within the period prescribed under law. For year under consideration, limitation period expires within six months from the end of the Financial Year in which the return of income has been filed. In the present facts, the limitation period expired on 30.09.2013. 4.3 Section 292BB of the Act contemplates situations of irregularities wherein the notice has been served to the assessee in time and in accordance with the provisions of this Act. The present case assessee has not received the notice u/s. 143(2) in time and therefore the argument raised by revenue cannot be appreciated. 4.4 The Ld.AR has placed reliance on the judgment of Hon'ble Supreme Court in the case of ACIT & anr. Vs. Hotel Blue Moon repor....