2025 (11) TMI 1674

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..../AGR/2024 for AY 2012-13, arises out of the order of the AddL/ JCIT(A)-5, Mumbai [hereinafter referred to as 'ld. ADDL/ JCIT(A)', in short] dated 24.06.2024 against the order of assessment passed u/s 144/147 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 29.11.2019 by the Assessing Officer, ITO, Ward-2(1)(3), Agra (hereinafter referred to as 'ld. AO'). 2. At the outset....

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....f Rs. 12,32,000/- in the Savings Bank maintained with State Bank of India in Account Number 10114169760. Pursuant to this information, notice under section 148 of the Act stood issued to the assessee on 31-03-2019. In response to the said notice, the return of income was filed by the assessee on 22-11-2019. The learned AO proceeded to complete the reassessment proceedings under section 144 read wi....

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....lahabad High Court. This issue has been decided in favour of the assessee by the Hon'ble Jurisdictional Allahabad High Court in the case of CIT Lucknow vs Rajiv Sharma reported in 336 ITR 678(All) wherein in the reassessment proceedings, an addition on account of unexplained gift was sought to be examined and made. In the said reassessment proceedings, notice under section 148 of the Act was issue....

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....er section 143(2) of the Act cannot be dispensed with and non-issuance of the same would become fatal to the entire search assessment proceedings. Further the Hon'ble Supreme Court in the case of CIT vs Laxman Das Khandelwal reported in 266 Taxman 171 (SC) had held that non-issuance of notice under section 143(2) of the Act would not be cured by the provisions of section 292BB of the Act by holdin....