TaxTMI 
TaxTMI 
2026 (8) TMI 1547
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....tion by the National Faceless Assessment Centre (NFAC) on 30/12/2021 is bad-in-law, since the scheme for faceless assessment of income escaping assessment prescribed u/s. 151A had been notified by the CBDT w.e.f. 29/03/2022, thereby consequential re-assessment order passed u/s. 147 is void ab-initio; 2.0 On facts and circumstances of the case and in law, the re-assessment order passed u/s. 147 is bad-in-law, since the intimation to complete the assessment in accordance to the procedure laid u/s. 144B(1)(iii) has not been issued by the NFAC and had not been served to the appellant; Other Grounds 3.0 On facts and circumstances of the case and in law, Ld. CIT(A) erred in confirming the validity of notice u/s. 148 issued in mechanical manner, in absence of new tangible material and on the basis of borrowed satisfaction and without having reason to believe of escapement of income; 4.0 On facts and circumstances of the case and in law, Ld. CIT(A) erred in passing the non-speaking order, without considering the submissions and documents filed along with appeal memo; 5.0 On facts and circumstances of the case and in law, Ld. CIT(A) erred in conf....
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....inst the order passed u/s. 147 r.w.s. 143(3) and 144B for which the case was reopened by issuing notice u/s. 148 on 31.03.2021, after taking prior approval of the competent authority i.e. ld. PCIT-4, Mumbai u/s. 151 dated 31.03.2021. Copy of this approval is placed in the paper book at page 7. 3. Brief facts in respect of the above issue as culled out from the records are that assessee filed its return of income on 30.09.2013, reporting total income at Rs 27,910/-. Information was received from the investigation wing of the department wherefrom it is noticed that assessee had sold shares of JRI Industries & Infrastructure Ltd., a company alleged to be a penny stock, for a sale consideration of Rs 1,55,95,327/-. 3.1. During the year under consideration, ld. AO observed that assessee had not declared this income in its return. Case of the assessee was taken up by reopening proceedings u/s. 147 for which notice u/s. 148 was issued on 31.03.2021. Assessee filed its return of income in response to the said notice on 17.02.2022. In para 2 of the reassessment order, ld. A.O. records that notice u/s. 143 (2) was issued on 14.03.2022 by providing it the reasons to believe recorded for....
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....l Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022 (3) Every notification issued under sub-section (1) and sub-section (2) shall, as soon as may be after the notification is issued, be laid before each House of Parliament." 4.1. The above section is relevant for the purpose of assessment, reassessment, re-computation u/s. 147 etc. In this regard, Central Government is required to make scheme which shall be effective upon its publication by way of notification in the official gazette. Every such notification issued is required to be laid before each House of Parliament. 5. We also take note of section 143(3A) to (3C) of the Act: "Assessment 143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed in the following manner, namely:- ... (3A) The Central Government may make a scheme, by notification in the Official Gazette, for th....
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...."assessment" means assessment of total income or loss of the assessee under sub-section (3) of section 143 of the Act. 7.1. Another notification referred is of the same date with S.O. 3265(E) [Notification No. 62/2019/F. No. 370149/154/2019-TPL] which was also published in the official gazette for the purpose of giving effect to the "E-assessment Scheme, 2019" made u/s. 143(3A). Subsequently, yet another notification was published in the official gazette in respect of section 143(3A) vide S.O. 741(E). [Notification No. 6/2021/F.No. 370149/154/2019-TPL] dated 17.02.2021 making amendment in the "Faceless Assessment Scheme, 2019" which relates to assessment u/s. 143(3) r.w.s. section 144C. 8. More relevant notification on which the attention of the Bench was invited is S.O. 1466(E) [Notification No. 18/2022/F. No. 370142/16/2022-TPL (Part 1] dated 29.03.2022 which is published in the official gazette in exercise of power conferred u/s. 151A (1) and (2) for the scheme titled as "e-Assessment of Income Escaping Assessment Scheme, 2022". This scheme is stated to come into force from the date of its publication in the official gazette which is 29.03.2022. Scope of the scheme is stat....