TaxTMI 
TaxTMI 
2026 (10) TMI 898
X X X X Extracts X X X X
X X X X Extracts X X X X
....ome Tax Act, 1961 (in short, "the Act"), for the A.Y. 2012-13. 2. Brief facts relevant for adjudication of the instant appeal are that the Assessing Officer (in short, "AO"), vide assessment order dated 27.12.2019 passed u/s 143(3) r.w.s. 147 of the Act, made additions of Rs. 24,55,812/- and Rs. 17,66,78,529/- u/s 69A of the Act, being the sale proceeds of shares of M/s Nivyah Infrastructure & Telecom Services Ltd. and M/s Scan Steels Ltd., respectively, by treating the same as unexplained money u/s 69A of the Act. 3. The Assessee thus being aggrieved challenged the said additions before the Ld. Commissioner. The Ld. Commissioner deleted the additions on merits but sustained the validity of the reassessment proceedings. 4. Thus, th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e heard the parties, perused the material available on record and given thoughtful consideration to the rival submissions. The ground raised by the Assessee is purely legal in nature and goes to the root of the reassessment proceedings. Therefore, respectfully following the judgment of the Hon'ble Supreme Court in National Thermal Power Co. Ltd. Vs. CIT, (1998) 229 ITR 383 (SC), we admit the ground raised by the Assessee under Rule 27 of the Income Tax (Appellate Tribunal) Rules, 1963. 10. Coming to the aforesaid ground, we observe that the Assessee filed its return of income on 26.04.2019 for the A.Y. 2012-13, declaring gross total income of Rs. 9,18,046/-. A notice u/s 148 of the Act had been issued on 30.03.2019, which culminated in t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....returns Upto Rs.20 lacs Above Rs 20 lacs Upto Rs.30 lacs Above Rs.30 lacs Non-corporate returns Upto Rs.15 lacs Above Rs. 15 lacs Upto R$.20 lacs Above Rs 20 Sacs Metro charges for the purpose of above instructions shall be Ahmedabad, Bangalore, Chennai, 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. 11. We observe that the Hon'ble Jurisdictional High Court in the case Ashok Devichand Jain (supra) has also considered the notice u/s. 148 of the Act and the above instructions and ultimately set aside the notice u/s. 148of the Act by observing and holding as under: - ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rt to migrate the PAN after obtaining administrative approval from the higher authorities by 31st March, 2019. 5. The notice under section 148 of the Act is jurisdictional notice and any inherent defect therein is not curable. In the facts of the case, notice having been issued by an officer who had no jurisdiction over the Petitioner, such notice in our view, has not been issued validly and is issued without authority in law. 6. In the circumstances, we have no hesitation in setting aside the notice dated 30th March, 2019. 7. Consequently the order dated 18th November, 2019 rejecting Petitioner's objection is also quashed and set aside. 8. Petition disposed. 9. No order as to costs." 12. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....sfer order, to demonstrate whether the Assessee's case had been specifically assigned to the ACIT-20(1), Mumbai, authorizing the said officer to initiate proceedings u/s 147 r.w.s. 148 of the Act. 15. Thus, adjudication of the jurisdictional ground requires factual verification of the relevant jurisdictional orders, assignment records and transfer proceedings, including whether the ACIT-20(1), Mumbai was specifically vested with jurisdiction over the Assessee on the date of issuance of the notice u/s 148 of the Act. In the absence of the complete primary record, it would not be appropriate to record a conclusive finding on this issue at this stage. 16. Consequently, the impugned order is set aside and case is remanded to the file of t....