TaxTMI 
TaxTMI 
TaxTMI 
2025 (5) TMI 601
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....e Learned Dispute Resolution Panel-1, Mumbai ("Ld. DRP"), assessing the Income of the Appellant at INR 4,68,29,657/- instead of nil returned income is contrary to provisions of the Act and therefore, void-abinitio. 2. That on the facts and in the circumstances of the case and in law, the notice issued under section 148 on July 29, 2022, is barred by time limitation as the Ld. AO while issuing the notice has not considered the time limit specified under first proviso to Section 149(1) of the Act. The benefit and relaxations conferred under The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 ("TOLA') will not extend the limitation provided under the first proviso to section 149(1) of the Act. 2.1 That on facts and in the circumstances of the case and in law, the Ld. AO has erred in issuing notice under section 148 as the same cannot be issued as per the provisions of section 149(1)(b) in the absence of any income escaped assessment represented in the form of 'asset' 3. On the facts and circumstances of the case and in law, the notice dated March 17, 2023 issued under section 143(2) of the Act by the Ld. AO is i....
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....AE on 01.04.2010. The assessee is the wholly owned subsidiary of M/s Aptivaa Consulting Solutions Pvt. Ltd. (Aptivaa India) and is engaged in providing comprehensive analytical solutions cutting edge solutions, for balance-sheet management, impairment losses computation, capital adequacy computation, portfolio analytic as well as Model Risk Management to the clients in banking, insurance and other financial services globally. A survey under section 133A of the Act was conducted on 29.08.2019 in the case of Aptivaa India by DGIT (Inv.), Mumbai. Subsequently information was shared with the AO of the assessee based on which the AO was of the view that the control and management of the affairs of the assessee is wholly situated in India. It was also alleged that the assessee had booked various nongenuine expenditure to inflate its expenses and that the assessee did not file its return of income for the AY 2014-15. The AO based on the information reopened the assessment under section 147 of the Act by issue of notice dated 31.03.2021 which as per the AO's record was issued on 15.04.2021. Accordingly the AO as per the directions of the Hon'ble Supreme Court in the case of Ashish ....
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....e of Ashish Agrawal (supra). Therefore the entire foundation of the reassessment proceeding in assessee's case is the notice dated 31.03.2021. The ld AR submitted that the address mentioned in the notice dated 31.03.2021 which according to the revenue was served on 15.04.2021 does not belong to the assessee. The ld AR further submitted that since the notice was issued to a wrong address, the assessee was not aware of the initiation of the reassessment proceedings and came to know of the said proceeding only when the email dated 23.03.2022 was sent by the AO to the assessee. The ld AR also submitted that the in the statement recorded during the survey proceedings of Aptivaa India on 29.08.2019, the address of the assessee and Aptivaa India were clearly mentioned and the AO though has entirely relied on the statement recorded for initiating reassessment proceedings failed to send notice to the correct address. The relevant submissions of the ld AR in this regard is extracted below - 3. From the foregoing discussion, it is unequivocally established that the notice issued under Section 148 of the Act was dispatched to an incorrect address. Consequently, the Revenue's a....
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.... the above address as per information from public domain is that of a Tax Consultant and that the service of notice on the said address is evidenced. "3.1 The Hon'ble ITAT Vide Para No 3 of Order-sheet, has directed to give comment and verify whether the address mentioned in the notice dated 31/03/2021 belongs to the assessee or in any of its authorized agent in India. In this regard, it is found from records that information was received relating to survey conducted in the case of AE of the assessee. The information revealed specific information relating to the assessee which resulted in issuance of notice u/s. 148 dated 31.03.2021. The address mentioned on the notice is C/o JSP Finman Consultants, A/704, Shubh Shanti Complex, MG Road, Kandivali (West), Mumbai- 400067. On a search conducted in public domain. JSP Finman Consultants are tax consultant. The proof of issuance, dispatch and service of notice u/s, 148 of the Act dated 31.03.2021 have already provided in the report submitted vide this office letter dated 26.09.2024 and Email dated 26.09.2024 Copies of same enclosed herewith for ready reference." 7. From the perusal of the above report we notice t....
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....e present case, the Revenue has failed to discharge that onus. (v) The mere fact that an Assessee or some other person on his behalf not duly authorised participated in the reassessment proceedings after coming to know of it will not constitute a waiver of the requirement of effecting proper service of notice on the Assessee under section 148 of the Act. (vi) Reassessment proceedings finalised by an AO without effecting proper service of notice on the Assessee under section 148(1) of the Act are invalid and liable to be quashed. (vii) Section 292BB is prospective. In any event the Assessee in the present case, having raised an objection regarding the failure by the Revenue to effect service of notice upon him, the main part of section 292BB is not attracted. 7 to 10 *** 11. Mr. Sahni submitted that the order of the CIT(A) notes the fact that a photocopy of the notice was given to the Assessee during the re-assessment proceedings and that by itself should constitute sufficient service of notice on the Assessee. In light of the law explained by the Supreme Court in R.K. Upadhyaya v. Shanabhai P. Patel [1987] 33 Taxman 229/166 ITR 163 which....