2024 (11) TMI 681

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....arging interest under Section 234B of the Act. 2. The Ld. Assessing Officer & Ld. Commissioner Officer has erred in law as well as on facts in charging interest under Section 234C of the Act. 3. The notice under Section 143(2) has been issued on 08.11.2019 when the return has been filed for the F.Y. 2016-17 on 22.03.2019. the Ld. Assessing Officer has erred in facts as well as law in framing assessment without issuing notice under Section 143(2) of the Act." 3. On the basis of information receive from SHO, Police Station, Jaipur that cash was seized of Rs. 23,00,000/- from two persons namely Shri Rameshbhai and Shri Kausik Patel on 15.12.2016. Notice under Section 148 of the Income Tax Act, 1961 was issued to the assess....

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....read with Section 147 of the Act itself is bad in law. The Ld. AR relied upon the following decisions:- 1) ACIT vs. Hotel Blue Moon (2010) 2 TMI 1(SC) 2) Khaitan Winding Wire P. Ltd (2022) 3 TMI 249 (Tribunal - Kolkata) 3) CIT vs. Nirali Specific Family Trust (2016) 3 TMI 502 (Guj. High Court) 4) PCIT vs. Silver Line (2015) 11 TMI 809 (Delhi High Court) 5) PCIT vs. Jai Shiv Shankar Traders P. Ltd (2015) 10 TMI 1765 (Delhi HC) 6) PCIT vs, Jignesh Bhagwandas Patel (2019) 7 TMI 751 (Gujarat HC) 5.1 As regards ground nos.1 & 2, the Ld. AR submitted that the assessee has offered the amount of Rs. 20,00,000/- for tax in the return of income which was filed under the response to notice under....

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....as been categorically mentioned in the statute that the Assessing Officer shall serve on the assessee a notice requiring him on the date to be specified therein either to attend the Office of the Assessing Officer or to produce or cause to be produced before the Assessing Officer any evidence on which the assessee may rely in support of the return, provided that notice under Sub-section shall be served on the assessee after the expiry of six months from the end of the Financial Year in which the return is furnished. In the present case, return was furnished by the assessee in response to the notice under Section 148 of the Act on 22.03.2019 as mentioned in paragraph no.2 of the Assessment Order. Thus, the statutory notice to be issued under....