2026 (9) TMI 1708

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.... the Act dated 19.12.2017, which is invalid as the same is passed in consequent to invalid notice issued u/s 148 of the Act on 28.03.2017. 3. The facts in brief are that the return of income was filed on 22.02.2011, showing total income of Rs.410/-. Thereafter, the case of the assessee was reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 28.03.2017, after the ld. AO received information that the assessee is a beneficiary of accommodation entries to the tune of Rs.1,62,00,000/- from two parties namely M/s Yogesh Projects Pvt. Ltd. & M/s Apeak Infotech Pvt. ltd. Thereafter, the ld. AO issued notice u/s 148 of the Act which was complied with by filing the return of income and thereafter notice u/s 143(2) and 142(1) of the....

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....ence, the same is extracted below:- 7. We have also examined the approval granted u/s 151 of the Act dated 28.03.2017, which was granted to 35 entities together whose cases were reopened u/s 148 of the Act vide order dated 28.03.2017, but received by the ld. AO on 30th March, 2017, for the sake of ready reference the same is extracted below:- 8. We have perused the notice u/s 148 of the Act as well as the sanction granted u/s 151 of the At and note that the notice u/s 148 of the Act was issued prior to the sanction communicated to the ld. AO on 30.03.2017 and therefore, the same is invalid and the assessment framed consequently, is also invalid and cannot be sustained. The case of the assessee is squarely covered by the following deci....

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....FFICE OF THE INCOME TAX OFFICER WARD 9(3), KOLKATA It: POPULAR AGENCIES PRIVATE LIMITED PAN AAFOP0289A AY/2010-11 . Jaled 28/03/2017 Letter No : ITBA/AST/S/148/2016- 1/1003629310(1) Notre Leder Section 148 Of The Income Tax Act. 1961 2 Sir/ Madam/ M/s. L borges I have reasons to believe that your Income chargenble to Tax for the Assessment Year cold ! 1 tas escaped Assessment within the meaning of section 147 of the income Tax Act 1961. itharo bra, propose to assess/ re-assess the income/ loss for the said Assessment Year and ! horeby require you to deliver to me within 30 days from the service of this notice, a return in the prescribed form for the said Assessment Year. This notice is being issued after obtaining th....

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....s Pvt Ltd AABCU058OB 2011-12 ITO, Ward-7(2) 7 M/s Khaitan Land Lid AACCP7499R 2011-12 ITO, Ward-7(3) 8 M/s. Dream Oil Pyt Lid AADCDI567B 2010-11 ITO, Ward-7(3) 9 M/s Stor Leasure Offset Per Lid AAECS2132G 2010-11 ITO, Ward-7(3) iV M/s Ashika Trade Link Pvt Ltd AAHICA8396D 2011-12 DCIT, Cir-9(!) 11 M/s Dwarska Jewellers Pet I_Id AACCD41691 2010-11 DCIT, Cir-9(1) 2 Mis EasterwCopper Mig. Co. Ltd AAACE70:SQ 2010-11 DCIT, Cir-9(1) Alle lax Officer. (Vero-Vili Galler ie पार्थ सारथी जाना PARTHA SARATHI JANAD) JAKO आयकर अधिकारी, वार्ड-9(1), कोलकाà....