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2013 (9) TMI 332 - AT - Income TaxReassessment proceedings - Defect in service of notice u/s 143(2) – Validity of Assesment as per Section 292BB - irregularity curable u/s 292BB - Whether the CIT(A) was right in holding that in absence of issuance of notice u/s 143(2), the assessment was null and void not appreciating provisions u/s 292BB – Held that:- Notice was not served within the stipulated time. Mere giving of dispatch number will not render the said finding to be perverse. In absence of notice being served, the Assessing Officer had no jurisdiction to make assessment. Absence of notice cannot be held to be curable under Section 292 BB of the Act - Following CIT v. Cebon India Ltd [2009 (7) TMI 26 - PUNJAB AND HARYANA HIGH COURT ] - It was held in this case that absence of notice is not curable defect under s. 292BB of the IT Act - the objection of the Revenue is not maintainable - Therefore, the learned CIT(A) was justified in setting aside the entire assessment order. Section 292BB has been inserted by Finance Act, 2008, has no retrospective effect and is to be construed prospectively - The provision of s. 292BB of the IT Act would not apply in the case of the assessee - Further, no notice under s. 143(2) has been issued or served upon the assessee - The assessment order under appeal is 2001-02 - Therefore, the provision of s. 292BB of the IT Act would not apply in the case of the assessee - Further, no notice under s. 143(2) has been issued or served upon the assessee. Reopening of Assessment u/s 148 -Disallowance of various heads like unexplained investment, loans raised and unexplained capital - when entire reassessment order has been set aside and quashed by the learned CIT(A) and confirmed - rest of the grounds in the Departmental appeal regarding reopening of assessment under s. 148 and deletion of addition on merits were left for academic discussion only. Therefore, we do not propose to decide the same at this stage, as no notice under s. 143(2) was issued in this case. Therefore, there would not be any valid reassessment proceedings under s. 147 of the IT Act and all resultant additions made in such reassessment order would stand deleted.
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