2025 (9) TMI 1424

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....ssue namely, whether impugned order passed by the ld. Commissioner is sustainable or not in the absence of any specific Show Cause Notice for initiating proceedings under Section 263 of the Income Tax Act. 3. The Registry has pointed out that appeal is time barred by 61 days. However, ld. Counsel for the assessee submitted that this period represent the Covid period because appeal was filed in 2021 whereas Covid period continued upto May,2022. Therefore, practically it is not time barred in view of the interim directions issued by the Hon'ble Supreme Court in various orders. Therefore, we condone the delay, if any and proceed to decide the appeal on merit. 4. The brief facts of the case are that assessee has filed its original ret....

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.... provided under Section 139(1) of the Income Tax Act. The assessee has replied to the ld. Commissioner that it has filed the return within due date because in that year, time limit was extended. The ld. CIT thereafter, could not commence the enquiry under Section 263 of the Act. 6. After some time, a fresh notice was issued to the assessee on 23.02.2021. Copies of all these notices are placed on the Paper Book. Relevant part of this Show Cause Notice read as under : NOTICE FOR THE HEARING M/s/Mr./Ms. Subject : Notice for Hearing in respect of Revision proceedings u/s 263 of the Income Tax Act, Assessment Year 2015-16. In this regard a hearing in the matter is fixed on 02/03/2021 at 11:00 AM. You are requeste....

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....sed prejudice to the Revenue but no such notice was issued to the assessee. Ld. CIT thought as if the earlier notices issued to the assessee have not attained finality therefore, 263 action is to be continued. 8. A perusal of the earlier notices would reveal that those notices were issued for the reason that assessee has not filed the return within the time limit provided under Section 139(1) and therefore, it is not entitled to carry forward the losses. But this observation of the ld. CIT was found to be incorrect because due date was extended by the CBDT upto 30.11.2015. 9. On the other hand, ld. CIT DR was unable to controvert the submissions of the ld. counsel. She emphasized that earlier two notices were not closed therefore, pro....