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2012 (9) TMI 504 - AT - Income TaxValidity of Best Judgement assessment framed u/s 144 on opinion that return filed pursuant to notice u/s 148 was belated - assessee contesting the order on ground that neither a notice u/s 142(1) nor a notice u/s 143(2) was issued before completing the best of judgment assessment - Held that:- Admittedly, assessee had filed return u/s 139(1) and assessee was not issued a notice u/s 143(2) nor u/s 142(1). Hence, none of the three conditions which, would have given the AO power to make a best judgment assessment, was satisfied. Further, the assessee had filed a return pursuant to the notice u/s 148 though beyond the period mentioned in the said notice, and this was done before the date of assessment. AO having considered such return for finalizing the assessment, was duty bound to comply with the requirement of the Act for issuing notices. Requirement of Section 143(2) would apply even where re-assessment proceedings are initiated. Since no notice was issued either u/s 143(2) or 142(1), CIT(A) was justified in holding the re-assessment to be not valid and quashing such re-assessment - Decided in favor of assessee
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