AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2026 (4) TMI 194
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....se are that assessee is an individual and e-filed his return of income on 31.10.2019, declaring total income of Rs. 17,91,980/-. A search and seizure action was carried out u/s 132 of the Act on 04.12.2018 in Faquir Chand Lockers & Vaults Pvt. Ltd. group cases where assessee is having locker No. 307 at 6704A, Khari Baoli, Delhi. The case of the assessee was centralized in terms of the order passed u/s 127 of the Act, and notice u/s 143(2) of the Act was issued on 22.10.2020. Thereafter the notices u/s 142(1) alongwith detailed questionnaire were issued from time to time which were duly replied. The assessee is engaged in the business of Kirana items and is a partner in M/s Vishambhar Nath Basant. In the said locker, cash of Rs. 1,20,00,000/....
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.... nature and requires no verification therefore, it is requested to admit the same. Reliance is placed on the judgement of Hon'ble Supreme Court in the case of NTPC Ltd. Vs. CIT reported in 229 ITR 383 (SC). Further, the assessee has taken another additional ground with respect to the issue of notice u/s 143(2) dated 22.10.2020 which according to assessee is barred by limitation. The assessee also challenged the approval granted u/s 153D of the Act being mechanical given for various assessment years by a common order. 5. On the other hand, ld. CIT-DR for the Revenue vehemently opposed the admission of the additional grounds of appeal and submits that the order passed u/s 127 is not applicable therefore, the additional ground of appeal tak....
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....legal in nature and all the facts supporting such additional grounds have already been emanated from the records available before us, therefore, there is no requirement of any verification on the part of the Assessing Officer and accordingly, the same are hereby admitted for adjudication. 8. Firstly, we take the additional Ground of appeal No. 1 taken by the assessee wherein assessee has challenged the validity of the jurisdiction of the Assessing Officer in terms of order passed u/s 127 of the Act dated 15.10.2020 which according to assessee is invalid, nonest and void-ab-initio and according to the assessee, all the subsequent order passed based on such invalid order u/s 127 deserves to be quashed. 9. Before us, ld. AR for the asses....
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....ies and perused the material available on record. It is observed that the return of income was filed by the assessee for various assessment years from AY 2013-14 to 2020-21 wherein return of income was declared below the Rs. 20 lacs, copy of the same returns are placed on the paper book at pages 8 to 16. It is further observed that in terms of CBDT instruction No. 1/2011 dated 31.01.2011, the jurisdiction over the assessee was with the Income Tax Officer since the income declared in the return of income filed was below Rs. 20 lacs, however, while transferring the jurisdiction by the ld. PCIT in terms of order dated 24.12.2020 passed u/s 127 of the Act, the ld. PCIT has transferred the case of the assessee from ACIT, Circle 34(1), Delhi to A....
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....ed in the case of the assessee is placed at page 21 and 22 of the written submission of the assessee as per which the said notice was issued by the ACIT, Central Circle 21, Delhi. It is further observed that the order u/s 127 transferring jurisdiction to the AO i.e. the ACIT, Central Circle, Delhi was passed on 24.12.2020 however, the said AO has issued the notice u/s 143(2) of the Act on 22.10.2020 i.e. much prior to the date of having jurisdiction over the assessee's case. Since the notice u/s 143(2) is issued beyond the time limit prescribed under the Act therefore, the said notice is barred by limitation and consequent order passed u/s 143(3) of the Act is invalid. As observed above, the said notice is also issued by the Assessing Offic....