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2013 (10) TMI 782 - AT - Income TaxReassessment u/s 147 - validity of reassessment proceedings where period of limitation for issuance notice us/ 143(2) did not expire - Held that:- The return of income was processed under section 143(1)(a) on March 9, 2001. However, the Assessing Officer issued a notice under section 148 of the Income-tax Act on April 30, 2001. Such a notice was objected to as time barred. In spite of that the Assessing Officer has not withdrawn the notice and he has issued notice under section 143(2) of the Act and completed the assessment on March 28, 2003. That was carried on appeal before the Commissioner of Income- tax (Appeals), who held that the assessment was ab initio void, inasmuch as the Assessing Officer had issued notice under section 148 of the Act when he had sufficient time to issue notice under section 143(3) of the Act Aggrieved by the order of the Commissioner of Income-tax (Appeals), the Revenue filed an appeal before the Income-tax Appellate Tribunal. The Tribunal, following the decision of this court in the case of CIT v. K. M. Pachayappan has dismissed the appeal filed by the Revenue. Dismissing the appeal, that the Tribunal was right in holding that notice under section 148 of the Act could not be issued for making an assessment under section 147 of the Act, when time limit was available for issue of notice under section 143(2) of the Act for making an assessment under section 143(3) of the Act - Following decision of COMMISSIONER OF INCOME-TAX Versus TCP LTD. [2009 (4) TMI 396 - MADRAS HIGH COURT] - Decided in favour of assessee.
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