2024 (11) TMI 1203

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....er for A.Y. 2019-20 along with the order dated 17.04.2023 passed under Section 148A(d); the impugned notice dated 01.04.2023 issued under Section 148(b) of the Act and impugned order dated 01.08.2024 disposing off objections;" 2. The petitioner filed its return of income for the assessment year (AY) 2019-20 on 20.03.2020 declaring 'NIL' income. The petitioner did not receive any intimation regarding its return at the material time. 3. The Assessing Officer (AO) sought to reopen the assessment by initiating proceedings under Section 148A of the Income Tax Act, 1961 (hereafter the Act). Accordingly, the AO issued a notice dated 01.04.2023 under Section 148A(b) of the Act (hereafter the impugned notice) alleging that he had information, ....

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....dex Pvt. Ltd. of Rs. 1,70,800/-. 2. Transaction with M/s Alight Tradex Pvt. Ltd. of Rs. 3,15,500/-. Considering the information received through Insight Portal suggests escapement of income. A show cause notice is hereby issued to the assessee requiring it to submit the details with documentary evidences. 1. Transaction with M/s Capacious Tradex Pvt. Ltd. along with supporting documentary evidences. 2. Transaction with M/s Alight Tradex Pvt. Ltd. along with supporting documentary evidences. 3. Copy of audited financials with all annexures. 8 Income escaped/likely to be escaped Rs. 4,86,300/-." 4. Section 149(1)(a) of the Act, provides that no notice under Section 148 of the Act shall be issued beyond the period of....

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....ed as under: "25.12 The review of the aforesaid judgments of the Supreme Court and the several High Courts shows that all Courts have consistently held that the expression 'issue' in its common parlance and its legal interpretation means that the issuer of the notice must after drawing up the notice and signing the notice, make an overt act to ensure due despatch of the notice to the addressee. It is only upon due despatch, that the notice can be said to have been 'issued'. 25.13 Further, a perusal of the Compliance Affidavit reveals that while the function of generation of Notice on ITBA portal and digital signing of the Notice is executed by the JAO, the function of drafting of the e-mail to which the Notice is attached ....