2022 (7) TMI 429

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....3.2016. Assessment was framed by ACIT, Company Circle IV(2), Coimbatore for the AY 2003-04 u/s. 143(3) r.w.s. 147 of the Income-tax Act, 1961 (herein after referred to as 'the Act') vide order dated 29.03.2006. 2. At the outset, it is noticed that the appeal filed by Revenue in ITA No. 2215/Chny/2016 is barred by limitation by 13 days. The revenue has filed condonation petition along with affidavit stating that it is seen from this office records that the last date for filing the appeal was on 12.07.2016 but the appeal papers were filed on 26.07.2016 with a delay of 13 days. The delay in filing the appeal occurred since the records could not be traced in time and prayed that the delay was unintentional. The Ld. Counsel for the as....

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....able to the facts of the case of the appellant. Therefore, the impugned proceedings are not sustainable in law." Aggrieved, assessee is in cross objection before us. 5. We have heard the rival contentions and gone through the facts and circumstances of the case. The facts are that for AY 2003-04, the assessee filed its return of income on 22.10.2003 declaring total income as nil under normal computation and book loss u/s. 115JB of the Act amounting to Rs. 3,25,26,498/-. Its return was processed and intimation issued u/s. 143(1) of the Act vide order dated 05.03.2004 determining the refund due at Rs. 10,44,782/-. Subsequently, the AO noticed that income chargeable to tax has escaped assessment within the meaning of section 148 r.w.s. 1....

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.... intimation u/s. 143(1) of the Act was issued vide dated 05.03.2004. However, the AO did not serve notice u/s. 143(2) of the Act on the assessee before 31.10.2004, despite the fact that the time limit was available for sending notice u/s. 143(2)(ii) of the Act. But before that, the notice u/s. 148 of the Act was issued on 03.06.2004 before the expiry of time limit for completion of assessment. This issue has been dealt with by the Hon'ble Madras High Court in the following case, where it is held as under: "The decision of the Jurisdictional High Court in the case of The Madras High Court in CIT vs. Qatalys Software Technology (2009) 308 ITR 249 has held that 'when time limit for issue of notice u/s. 143(2)(ii) has not expir....