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2022 (7) TMI 429 - AT - Income TaxReopening of assessment u/s 147 - period of limitation - Notice issued before or after expiry of time limit available with the AO for issuance of notice u/s. 143(2) - HELD THAT:- As we noted that the assessee filed its return of income on 22.10.2003 u/s. 139(1) of the Act. This return was processed and intimation u/s. 143(1) was issued vide dated 05.03.2004. However, the AO did not serve notice u/s. 143(2) of the Act on the assessee before 31.10.2004, despite the fact that the time limit was available for sending notice u/s. 143(2)(ii) of the Act. But before that, the notice u/s. 148 was issued on 03.06.2004 before the expiry of time limit for completion of assessment. As the issue is covered and the facts are very clear that once the time limit for issuance of notice u/s. 143(2) of the Act was available with the Assessing Officer up to 31.10.2004, the AO can resort to the notice u/s. 143(2)(ii) of the Act and no need for issuing of the notice u/s. 148 of the Act as held in TCP LTD. [2009 (4) TMI 396 - MADRAS HIGH COURT] and we quash the assessment proceedings and allow this CO of the assessee.
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