TaxTMI 
TaxTMI 
2026 (9) TMI 690
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....e circumstances of the case and in law, the assessment order passed under section 143(3) of the Income-tax Act, 1961 by the Ld. ACIT, Central Circle-8(4) is bad in law and void ab initio, as the appellant's case was governed by the faceless assessment procedure under section 144B of the Act and no valid transfer in terms of section 144B(8) was effected prior to assumption of jurisdiction, thereby rendering the entire assessment proceedings without jurisdiction. 2. That on the facts and circumstances of the case and in law, the notice issued u/s. 143(2) by the Ld. ACIT-CC-8(4) is bad in law and liable to be quashed as the same is issued in violation of the provisions of faceless assessment laid down as per section 144B(8) of the....
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....ner but it is the existing partners who are bearing the liability for payment of additional sum. 7. Without prejudice, on the facts and circumstances of the case and in law, the Ld. A.O. as well the Ld. CIT(A) erred in invoking section 45(4) of the Act, without appreciating that no partner has received any consideration during the year under consideration, and therefore the provisions of Section 45(4) are not applicable to the facts of the present case. 8. Without prejudice, on the facts and circumstances of the case and in law, the Ld. A.O. as well the Ld. CIT(A) erred in invoking section 45(4) of the Act, without appreciating that the expression used in Section 45(4) is "received" and not "receivable." In the present cas....
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....he Ld. CIT(A) confirmed the said addition. Aggrieved, the assessee is in appeal before us. 3. The assessee has raised various grounds challenging the validity of the assessment on jurisdictional grounds as well as the addition made under section 45(4) of the Act. During the course of hearing, the assessee also raised an additional legal ground vide application dated 09.07.2026 contending that the assessment framed under section 143(3) of the Act is wholly without jurisdiction, since for the year under consideration, being one of the three assessment years immediately preceding the assessment year relevant to the previous year in which search was conducted on 31.12.2021, the Assessing Officer ought to have invoked the provisions of sectio....
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.... of the above contention, reliance was placed on the decisions of the Coordinate Benches of ITAT in M/s. Torque Pharmaceuticals Pvt. Ltd. v. DCIT [2026 (4) TMI 1690 - ITAT Chandigarh], Homelife Buildcon Pvt. Ltd. v. DCIT [2025 (7) TMI 1231 - ITAT Chandigarh], Rajdhani Flour Mills Ltd. v. DCIT [2026 (5) TMI 1005 - ITAT Delhi], Miraj Products Pvt. Ltd. v. ACIT [2026 (5) TMI 408 - ITAT Jodhpur], DCIT v. Vijay Kumar Agarwal [2026 (4) TMI 557 - ITAT Delhi], Gas Supply Co. Pvt. Ltd. v. ACIT [2026 (4) TMI 972 - ITAT Delhi], Jagdeep Singh Gill v. DCIT/ACIT [2026 (6) TMI 461 - ITAT Delhi], M/s. Malbros International Pvt. Ltd. v. DCIT [2026 (1) TMI 983 - ITAT Chandigarh], Pilot Industries Ltd. v. DCIT [2026 (5) TMI 690 - ITAT Delhi] and Pradeep Kumar....
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....oper appreciation of the controversy, it would be relevant to refer to Explanation 2 to section 148, inserted by the Finance Act, 2021 with effect from 01.04.2021, which provides that where a search under section 132 is initiated on or after 01.04.2021, the Assessing Officer shall be deemed to have information suggesting escapement of income for the three assessment years immediately preceding the assessment year relevant to the previous year in which such search is initiated. 12. A plain reading of the above provision leaves no manner of doubt that, in the case of searches initiated on or after 01.04.2021, the Legislature has consciously brought the three immediately preceding assessment years within the ambit of the reassessment mechan....