TaxTMI 
TaxTMI 
2024 (6) TMI 1601
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....he lead case for adjudicating the grounds of appeals. 1.1. In the present case the assessee was served with a notice u/s 148 of the Act on the ground that the assessee had not filed any return of income and there was a transaction relating to sale/purchase of land to the tune of Rs. 13,78,937/- (AY 2014-15). It is seen that there was no worthwhile compliance to the notices issued by the ld. AO, attempting to elicit information regarding the said transaction. In light of the non-compliance income was assessed at Rs. 13,78,937/- vide order dated 28.03.2022 (AY 2014-15). 1.2. Aggrieved with this action of the AO, the appellant approached the ld. CIT (A) but before him also there was no discussion on the merit of the case as the....
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....f I.T. Act, 1961, on the basis of vague, arbitrary and suspicious reasoning without bringing any tangible material on record and without linking the assessee that income chargeable to tax has escaped assessment. (5) That under the facts & circumstances of the case, L'd CIT (A) NF AC erred in dismissing the appeal as not admitted. (6) That the L'd AO erred in making addition of Rs. 13,78,937/- being invested in purchase of property in the absence of corroborative material on record, and without considering the reply submitted on dated 24th March 2022 against show cause notice dated 23rd March 2022. The addition was made on the basis of suspicion, surmises and conjectures. (7) That the L'd AO passed the assessm....
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....iling. 2.4. We have carefully considered the rival contentions and also examined the documents placed before us, specially the screenshots from the ITBA Portal. It is seen that this case is squarely covered in favour of the assessee through the case of M/s. Osian Stock Broking Pvt. Ltd. (supra). The relevant portions from the said order are extracted as under: "4. We have heard the rival contentions and gone through the records. The notice in this case has been shown to be signed on 30.09.2015, however, the same was emailed to the assessee on 03.11.2015. The Hon'ble Jurisdictional Calcutta High Court in the case of Marudhar Vintrade Pvt. Ltd. vs. Union of India & Ors.' (supra) considering the facts that the notice u/s 148 of the....
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....ree Jai Shiv Shankar Traders Pvt. Ltd. IT Appeal No. 1068 of 2013 dated 18.02.2015; Hon'ble Madras High Court in the case of Sapthagiri Finance & Investment vs. ITO reported in (2013) 90 DTR (Mad) 289); Hon'ble Delhi High Court in the case of DIT vs. Society for Worldwide Interbank Financial Telecommunications reported in (2010) 323 ITR 249 (Del); Hon'ble Allahabad High Court in the case of CIT vs. Solarpur Cold Storage P Ltd (2014) 50 Taxmann.com 105 (All); Hon'ble Allahabad High Court in the case of CIT vs. Rajeev Sharma reported in [2011] 336 ITR 678 (All.). Since the Assessing Officer did not issue notice u/s 143(2) of the Act within the specified time period, therefore, the Assessing Officer could not have assumed jurisdiction to ....
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....s from the service of this notice, a return in the prescribed form for the said Assessment Year. This notice is being issued after obtaining the necessary satisfaction of the PCIT, Siliguri SURENDAR TIGGA WARD 1(1) JALPAIGURI (In case the document Is digitally signed please refer Digital Signature at the bottom of the page) Note: If digitally signed, the date of digital signature may be taken as date of document. CENTRAL REVENUE BUILDING, RACE COURSE ROAD,, I, JALPAIGURI, West Bengal, 735101 Email: [email protected], Office Phone:03561225074 . DIN-Document Identification No. This document is d gitally signad Signor; SURENDAR TY Date: Wednesday, N_chi 31, 2021 4:52 PM Location: KOLKATA dia e-Filing Anywh....