2026 (3) TMI 1114

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....passed u/s. 143(3) r.w.s. 147 of the Act by the ACIT, Circle-2, Pune for the Assessment Year (AY) 2012-13. 2. The assessee has raised 07 grounds of appeal raising various legal issues and also on merits of the case challenging the disallowance of interest made by the Assessing Officer. 3. We, however, with the consent of the both the sides, first take up the legal issue raised by the assessee challenging the validity of re-assessment order on the ground that Ld.AO has passed the assessment order in a period less than 04 weeks from the date of disposing of assessee's objections raised against the reasons recorded for issuing notice u/s. 148 of the Act. 4. At the outset, learned counsel for the assessee submitted that under the given....

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....st reopening vide letter dated 25.11.2019 and the same was disposed of on 29.11.2019. Thereafter, re-assessment order u/s. 143(3) r.w.s. 147 of the Act has been passed on 16.12.2019. 7. The grievance of the assessee is that after disposal of the assessee's last objection dated 29.11.2019, Ld.AO should have given at least 04 weeks time before passing the assessment order in the light of the ratio laid down by the Hon'ble Jurisdictional High Court in the case of Asian Paints Ltd. (supra). Admittedly, the Ld.AO has passed the assessment order before expiry of four weeks from the date of disposing of the last objection raised by the assessee. Under these given facts, the validity of the assessment proceedings has been challenged. We note....

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....n'ble Jurisdictional High Court in the case of Asian Paint Ltd. (supra) wherein Hon'ble Court has held that "if the Assessing Officer does not accept the objections so filed, he shall not proceed further in the matter within a period of four weeks from the date of receipt of service of the said order on objections, on the assessee. Accordingly rule is made absolute". Examining the facts of the instant case in the light of above judgement of the Hon'ble Jurisdictional High Court in the case of Asian Paint Ld. (supra), we notice that the Ld. FAO disposed of the objection vide notice dated 16.03.2022 but he has concluded assessment proceedings on 24.03.2022 i.e. within a period less than four weeks. Therefore, since the assessment order has be....