2022 (11) TMI 308

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... "1. That on the facts and in the circumstances of the case and in law, Ld. CIT-A erred in sustaining the order passed by Ld. AO u/s. 147/143(3) without appreciating that assumption of jurisdiction u/s. 148 by Ld. AO was in violation of mandatory jurisdictional conditions stipulated under the Act. 2. That on the facts and in the circumstances of the case and in law, Ld. CIT-A erred in sustaining the order passed by Ld. AO u/s. 147/143(3) without appreciating that assessment has been made without following law of natural justice. 3. That on the facts and in the circumstances of the case and in law, Ld. CIT-A erred in sustaining the order passed by Ld. AO u/s. 147/143(3) without appreciating addition made u/s. 68 is agains....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to tax has escaped assessment and such belief must be of the jurisdictional Assessing Officer and not any other Assessing Officer. It was submitted that the jurisdiction of Assessing Officer to reopen the assessment u/s. 147 depends upon issuance of a valid notice and in absence of the same the entire proceedings initiated by him would become void for want of jurisdiction. It was submitted that in the instant case, the notice u/s. 148 was issued by ITO, Ward 6(2), Ludhiana wherein the assessment was completed by ITO, Ward 7(3), Ludhiana which cannot be sustained in the eyes of law and in support, reliance was placed on the following decisions: * ACIT vs. Resham Petrotech Ltd. (2012) 136 ITD 185 (Ahd.) (Trib.) * Smriti Ked....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....trical Co. (P) Ltd. v. CIT [2002] 125 Taxman 775 (Delhi) 6. Per contra, the Ld. Sr DR submitted that notice u/s. 148 was issued to the assessee on 30.03.2018 which was duly served upon her and in response to the said notice, the assessee has filed her return of income and therefore has duly complied to the said notice and thereafter, the jurisdiction has been transferred from ITO, Ward 6(2), Ludhiana to ITO, Ward 7(3), Ludhiana and the assessment was accordingly be completed by ITO, Ward 7(3), Ludhiana. It was submitted that where the assessee has duly participated in the reassessment proceedings and has not objected to the jurisdiction of the Assessing Officer, the assessee cannot be permitted to raise the jurisdiction issue during appe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the assessee and after verification, he has reasons to believe that income of Rs. 12,28,920/- has escaped assessment within the meaning of section 147 of the Act. The basis for arriving at such a reasoning by the Assessing officer is that the assessee is beneficiary of long term capital gains on sale of shares and there is a failure on part of the assessee to disclose his income on account of long term capital gains on sale of shares in her return of income and there is thus a failure on part of the assessee to disclose his income truly and fully. In this regard, we refer to the original return of income filed by the assessee on 5.08.2011 wherein under the column "capital gains", no amount has been shown and thereafter, under the column "....