TaxTMI 
TaxTMI 
2025 (5) TMI 2278
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Act, 1961, dated 30.12.2016. The Assessee has raised the following grounds of appeal : "1. The Learned Commissioner of Income Tax (Appeals) [CIT(A)] erred in not appreciating the fact that the reassessment proceeding initiated U/Sec. 147 r.w.s. 144 of the Act by the Ld.AO is without jurisdiction and void ab initio as the impugned notice issued under section 148 is time-barred as per the proviso to section 147 of the Act. 2 The Ld. CIT(A) has erred in confirming that the assessment order passed by the Ld.AO U/Sec 147 rw.s. 144 of the Act, is not bad in law without appreciating the following important facts: a. The Ld. AO has erred in re-opening the assessment on the same issue without any tangible or fresh materia....
X X X X Extracts X X X X
X X X X Extracts X X X X
....143(2) was issued in the case of Assessee, though assessee had filed Return of Income within 30 days of the notice u/s.148 of the Act. Ld.AR took us through the page 34 of the paper book. Submission of ld.DR : 3. Ld. DR for the Revenue relied on the order of Assessing Officer and ld. CIT(A). Findings & Analysis : 4. We have heard both the parties and perused the material placed before us. 4.1 In this case, Notice u/s.148 of the Act was issued on 21.03.2016 for A.Y.2010-11. The reasons recorded are as under which are appearing at page no.2 of the assessment order : "The assessment u/s 143(3) was 12.03.2013 wherein the assessed income was Rs.11,97,170/- However during the verification of records it was seen that a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) : Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or....
X X X X Extracts X X X X
X X X X Extracts X X X X
....elopers from whom assessee has purchased new asset. Thus, all the documents were duly filed by the Assessee during the assessment proceedings u/s.143(3) of the Act. In the reasons recorded for reopening, the Assessing Officers has nowhere mentioned about any failure of the assessee. 5.1 In these facts and circumstances of the case, the assumption of jurisdiction u/s. 148 r.w.s 147 by the Assessing Officer is bad in law. Consequentially, the notice u/s.148 is bad in law. 6. In this case, in the order u/s. 144 r.w.s 147 of the Act, dated 30.12.2016 the Assessing Officer in Para 5 has stated that since no Return of Income has been filed by the Assessee in response to notice u/s. 148 of the Act, no notice u/s. 143(2) has been issued. Thus....
X X X X Extracts X X X X
X X X X Extracts X X X X
....der Section 148 of the Act, is fatal to the order of re-assessment. 20. Consequently, there is no legal infirmity in the impugned order of the ITAT. No substantial question of law arises. The appeal is dismissed." 6.4 The ITAT Delhi Bench in the case of ACIT Vs. P & R Infraprojects Ltd., in ITA No. 4944/DEL/2018 has also quashed the Assessment Order wherein, Notice u/s. 143(2) was not issued. 7. Respectfully following the decision of Hon'ble Delhi High Court and ITAT Delhi Bench, we hold that the Assessment Order u/s. 144 r.w.s 147 of the Act, dated 30.12.2016 is bad in law as No Notice u/s. 143(2) of the Act, was issued. Accordingly, Ground Nos.1 and 2 raised by the Assessee are allowed. Ground No.3 : 8. In this ca....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd the aforesaid judgments of the Court and the same deserves to be quashed. " Unquote. 8.2 In these facts and circumstances of the case, respectfully following the Hon'ble Karnataka High Court, since the new asset was purchased within one year from date of sale of the original asset, Assessee was eligible for deduction u/s. 54F of the Act. Thus, Ground No. 3 raised by the Assessee is allowed. 9. In the result, appeal of the assessee is Allowed. Order pronounced in the open Court on 27 May, 2025. ============= Document 1 . V.P. PATIL & CO. CHARTERED ACCOUNTANTS Mauli Chambers, 2nd floor, Above P. N. Gadgil Jewellers, Near Yashwantrao Chavan Complex, Main Road, Latur-413512 (MH) Tel. : 02382-242242, 252055 Fax : 25151....