TaxTMI 
TaxTMI 
2025 (5) TMI 203
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.... 3. The assessee reserves its right to add, amend, alter or delete any grounds of appeal at the time of hearing." 2. The assessee has also taken additional ground which reads as under: - "1. Because, on the facts and in the circumstances of the case, the impugned orders of assessment as also of the Commissioner of Income Tax (Appeals) are patiently illegal and bad in law since notice u/s 143(2) has been issued on the very same day, assessee filed his return of income. The Hon'ble Court has held that issuance of notice u/s 143(2), on the same day of filing return signifies that notice u/s 143(2) was issued without any application of mind and without examining the return of income and such notice is illegal and non-est in law. The entire proceedings are therefore liable to be set aside and quashed as it is a case synonymous to an assessment without the issuance of jurisdiction notice u/s 143(2)." 3. Heard, the Ld. Representatives of the parties on the additional ground. This ground is on the point of law i.e on the validity of the assessment order in the absence of valid notice u/s 143(2) of the Income Tax Act, 1961 ("the Act", for short). The ground being lega....
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.... of circle rate. 7. We have heard the rival submissions and perused the material available on record. First, we shall deal with the legal ground which is raised in the form of additional ground and against legality of assessment framed without giving notice u/s 143(2) of the Act. However, looking to the facts of the case, this ground of the assessee is not sustainable and the decision relied by the assessee are clearly distinguishable on facts of the case. Moreover, it is transpired from the records that a notice u/s 148 of the Act dated 15.10.2010 calling upon the assessee to file his return of income was issued. A notice u/s 143(2) of the Act dated 29.12.2011 along with additional ground is placed on record by the assessee. The notice is purported to have been issued calling upon the assessee to attend the assessment proceedings. It is interesting to note that the said notice dated 29.12.2011 referred to the Income Tax Return filed on 29.12.2011. Ld. Counsel for the assessee strongly urged that the assessment order passed in pursuance of such notice deserves to be quashed. As it is clear case of non application of mind by the assessing authority. Ld. Counsel has relied upon th....
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.... is reproduced as under: - "During this period the assessee has also filed return showing income of Rs. 1,41,125/-. Notice u/s 143(2) I.T. Act, 1961 was issued Shri Y.K. Singh (Brother of the assessee) attended and filed copy of purchase deed and sale deed. Assessee has shown improvement value of Rs. 1,66,400/-. Looking to the circumstances of the case the value shown by the assessee is being accepted." 9. However, the Ld. CIT(A) without verifying the correct value proceeded to sustain the finding of AO. The relevant finding of the Ld. CIT(A) is reproduced as under: - "Decision and reasons therefore, I have carefully considered the written submissions of the AR for the appellant. The provisions of section 50C are as under: Special provision for full value of consideration in certain cases. 50C. (1) Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government (hereafter in this section referred to as the "stamp valuation authority") for the purpose of pay....
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....ce made by the Assessing Officer under sub-section (1) of section 16A of that Act. Explanation 1.-For the purposes of this section, "Valuation Officer" shall have the same meaning as in clause (r) of section 2 of the Wealth-tax Act, 1957 (27 of 1957). Explanation 2.-For the purposes of this section, the expression "assessable" means the price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred to such authority for the purposes of the payment of stamp duty. (3) Subject to the provisions contained in sub-section (2), where the value ascertained under sub-section (2) exceeds the value adopted or assessed or assessable by the stamp valuation authority referred to in sub-section (1), the value so adopted or assessed or assessable by such authority shall be taken as the full value of the consideration received or accruing as a result of the transfer. It is noticed that the AO has taken the sale consideration value on the basis of value adopted or assessed or assessable by the "stamp valuation authority" for the purpose ....