2026 (5) TMI 1767

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 3. It was submitted by the ld. AR that the assessee had filed original return of income for the impugned assessment year on 28.09.13 disclosing total income of Rs. 15,82,770/-. It was the submission that assessment u/s 143(3) had been completed on 06.01.16 wherein the income of the assessee has been assessed at Rs. 18,63,400/-. It was the submission that the assessee is a domestic company. It was the submission that the notice was issued u/s 148 on 20.03.20 by the ACIT, Circle-5(1), Kolkata. It was the submission that the Instruction issued by the CBDT in Instruction No.1/2011 dated 31.01.2011 prescribed that the income limits in regard to the issuance of the notices in respect of corporate returns upto Rs. 30,00,000/- lies with ITOs an....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Delhi, Kolkata, Hyderabad, Mumbai and Pune. The above instructions are issued in supersession of the earlier instructions and shall be applicable with effect from 1-4-2011. 3.1 It was the submission that the notice having been issued u/s 148 by ACIT, Circle-5(1), Kolkata is in violation of the said CBDT Instruction is liable to be quashed and consequential assessment order is also liable to be quashed. The ld. AR placed reliance on the decision of Bombay High Court in the case of Ashok Devichand Jain v. UOI (2023) 452 ITR 43 (Bom.) (HC) reported in 452 ITR 43 wherein the Hon'ble Bombay High Court in paras 4 & 5 held as follows: "4. We have considered the affidavit in reply of one Mr. Suresh G. Kamble, ITO who had issued....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dated 29.03.2022 which reads as follows: 5. It was submitted by the ld. AR that the Assessing Officer mentioned that the assessee has not filed any return in response to notice u/s 148. The ld. AR drew my attention to page no. 50 of the paper-book which is the copy of return filed by the assessee on 11.09.21 with acknowledgment no. 491851180110921 which was the return filed in response to the notice u/s 148. It was the submission that the Assessing Officer mentioned that there was no response to the notice issued by the Assessing Officer to the assessee. The ld. AR drew my attention to the various responses to the notices as per portal of the assessee which reads as follows: 6. It was the submission that the assessment itself has been....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ve quashed the notice u/s 148, consequently the assessment order is quashed, I am not going into the issue of validity of assessment order passed by the NFAC on 30.09.21. 9. In the result, the appeal of the assessee is allowed. Order pronounced in the open court on 06/05/2026. ============= Document 1NOTIFICATION S.O. 1466(E) [NO. 18/2022/F. NO. 370142/16/2022-TPL(PART1] E-ASSESSMENT OF INCOME ESCAPING ASSESSMENT SCHEME, 2022 NOTIFICATION S.O. 1466(E) [NO. 18/2022/F. NO. 370142/16/2022-TPL(PART1], DATED 29-3- 2022 In exercise of the powers conferred by sub-sections (1) and (2) of section 151A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, namely :- Short title and co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essment Proceeding u/s 147 PAN AMECP3230E Name of Assesses PROFICIENT EQUITIES PRIVATE LIMITED Assessment Year 2013-14 Financial Year 2012-13 Applicable Act Income Tax Act 1961 Search by DIN a Notice/ Communication Reference ID : 100039090612 147 Notice w/'S ITBA/AST/ F/147(SCN)/2021-22/10358 99636(1) Description : NTBA]Show Cause Notice for Proceedings u/'s 147of income Tax Act 1961. Issued On : 25-Sep-2021 Response Due Date : 27-Sep-2021 Vien Response Notice/Letter Pet Document reference ID Seek Video Conferencing Notice/ Communication Reference ID : 100038887765 142(1) Notice u/s ITBA/AST/ F/142(1)/2021-22/1035770 166(1) Description : |ITBA)Notice w/'s 142[1)of Incom....