2019 (9) TMI 1761

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....ion of the ld. Assessing Officer (hereinafter called ld. AO) to pass order u/s. 143(3) r.w.s. 147 of the Income Tax Act (Act) on the ground that re-assessment proceedings itself are bad in law, as the reasons recorded by for re-opening assessment were by different AO than the AO who passed the assessment order. 3. Fact in brief are that the assessee filed return of income on 26-07-2010, declaring loss of Rs. 33,622/-, which was processed u/s.143(1) of the Act. Thereafter, the case was reopened u/s.147 of the Act, after recording reason to believe and accordingly a notice u/s.148 of the Act was issued on 20-01-2012, which was duly served upon assessee. The reasons recorded are reproduced as under for the sake of convenience: Name of th....

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....of share application, the equity shares have been issued at face value of Rs.10 each and premium of Rs. 90 each-per share. The share application money has been received from the following entities: 1. Alpha Chemie Trade Agencies P. Ltd. 2. Talent Inforway Ltd. 3. Alliance Intermediatries & Network P.Ltd. 4. Buniyad Chemicals Ltd. From the above it is apparent that the concerns, viz. M/s. Talent Infoway Ltd. and M/s. Buniyad Chemicals Ltd., which are providers of bogus share application money are also applicants to the share application money received by the assessee for A.Y. 2010-11. In the return of income for A.Y. 2010-11, the assessee is showing NIL income which has been processed u/s....

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....nd fatal infirmities and defects. The ld AR argued that assumption of jurisdiction on the part of the AO by issuance of such notice Ld.AR pointed out that the reasons for reopening the assessment u/s.147 of the Act were recorded by different AO, than the AO, who framed the assessment. Ld. AR referred to the reasons recorded a copy of it is filed at Pg.96 of the Paper Book and is re-produced elsewhere in this order and submitted that the reasons were recorded by the AO, Ms. Rajani V. Nair, Income Tax Officer- 2(1)(1), Mumbai, whereas the assessment was framed by different AO, Shri Manish Kasodekar, Income Tax Officer- 8(2)(1), Mumbai, dt.19-03-2013. It is a settled position that the persons who records the reasons, has to frame the assessmen....