2026 (1) TMI 884

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....the Income Tax Act, 1961 [hereinafter referred as 'the Act'] on the following grounds:- 1. That under the facts and circumstances of the case and in law, assessment made u/s. 47 rws 144B Dt. 29.03.22 is invalid in the absence of issuance of mandatory notice u/s. 143(2) after filing return of income on 19.07.21 i.e. prior to Completion of asstt. in response to notice u/s. 148 Dtd.31.03.21, more so reasstt. made in the absence of notice u/s. 143(2) is invalid and illegal for want of a valid assumption of jurisdiction, hence liable to be quashed. 2.That under the facts and circumstances, reasstt. framed u/s. 144 assuming that no valid ITR has been filed is illegal and unsustainable since the ITR in response to notice u/s. 148....

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....ting the appeal. 3. The brief facts of the case are that in this case, the return of income was filed on 30.7.2016 declaring total income at Rs. 5,89,560/-. Subsequently, information in this case has been received from insight portal as high risk profile case regarding fictitious profits in equity / derivative trading. The assessment was reopened after obtaining the prior approval from the Appropriate Authority for the AY 2016-17. Thereafter, notice u/s. 148 was issued on 31.3.2021 and the same was duly served upon the assessee. In response to the said notice, the assessee has filed return of income on 19.7.2021, declaring total income at Rs. 5,69,860/-. AO noted that the said return has been filed much later than the time permitted for ....

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.....2020. - Balbir Singh Vs. ACIT {2025} 171 taxmann.com 572 (Raipur Trib). - PCIT vs. Silver Line [2016] 65 taxmann.com 137 (Delhi) dated 4.11.2015. - PCIT vs. Shri Jai Shiv Shankar Traders P Ltd. (2015) 64 taxmann.com 220 (DHC) dated 14.10.2015. 5. Per contra, Ld. DR relied upon the orders of the authorities below. 6. We have heard the rival contentions and perused the records. We find considerable cogency in the contention of the Ld. AR that no notice u/s. 143(2) issued although belated income tax return in response to notice u/s. 148 was filed and assessment was made without issuing notice u/s. 143(2) which is without jurisdiction. In this case notice u/s. 148 of the Act dated 31.3.2021 allowing time of 30 ....