TMI Blog2020 (2) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... t order, the AO mentions that the notice had been issued under section 153A of the Act on 7.3.2006, but infact the notice which is issued on 7.3.2006 was the notice under section 153A read with section 153C of the Act. The said notices were invalid and the consequent assessment framed under section 153A of the Act suffers from infirmity, because of lack of jurisdiction invoked by the AO under section 153A of the Act. Consequently, the assessment orders framed in the case are bad in law and we hold so. We thus cancel the assessment orders passed in the case against the assessee being bad and invalid in law. The ground of appeal no. 1 stands thus allowed in favour of the assessee. Addition u/s 68 - unexplained cash credit - HELD THAT:- O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e are thus allowed. - ITA Nos. 2429 to 2432/Del/2012 - - - Dated:- 30-1-2020 - Ms. Sushma Chowla, Vice President And Dr. B.R.R. Kumar, Accountant Member For the Appellant : Sh. Piyush Kaushik, Adv. For the Respondent : Sh. H.K.Choudhary, CIT DR ORDER PER SUSHMA CHOWLA, VP This bunch of four appeals filed by the assessee are against separate orders of the CIT(A), all dated 09.03.2012, relating to assessment years 1998-99, 1999-2000, 2001-02 2004-05 passed under section 153A of the Act. 2. This bunch of four appeals relating to the same assessee on similar issues were heard together and are being disposed of by this consolidated order for the sake of convenience. 3. The assessee in appeal r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd not under section 153A of the Act. 7. The learned DR for the Revenue requested for further time to produce the assessment records in this regard. On the perusal of the order-sheet entries, it was brought to the notice of learned DR for the Revenue that the Bench had requisitioned the learned DR for the Revenue to produce the assessment records as early as on 10.4.2013, thereafter reminder was given on 10.7.2014 and even on 8.5.2017. Hence the request of the learned DR in this regard was not accepted. 8. The learned DR for the Revenue placed reliance on the orders of the authorities below and pointed out that there was a typographical error in issuing notice under section 153 of the Act. 9. We have heard the rival contentio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 153A of the Act on 7.3.2006, but infact the notice which is issued on 7.3.2006 was the notice under section 153A read with section 153C of the Act. The said notices were invalid and the consequent assessment framed under section 153A of the Act suffers from infirmity, because of lack of jurisdiction invoked by the AO under section 153A of the Act. Consequently, the assessment orders framed in the case are bad in law and we hold so. We thus cancel the assessment orders passed in the case against the assessee being bad and invalid in law. The ground of appeal no. 1 stands thus allowed in favour of the assessee. 11. Coming to the appeal relating to assessment year 2004-05 wherein the assessee, at the outset has not pressed grounds o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the income of the assessee under section 68 of the Act as unexplained cash credit. 14. The learned AR for the assessee pointed out that the year of assessment was assessment year 2004-05. He further pointed out that the property in question was sold on 16th June, 2001 i.e. relating to assessment year 2002-03. Our attention was drawn to four sale deed executed in this regard which are placed at pages 23 to 29 of the paper book. The learned AR for the assessee also referred to the permission received from the Income tax Department and ITC, Form No. 34A, copy of which is placed at page 62 of the paper book. The learned AR for the assessee submitted that where transaction of the sale of property was undertaken in assessment year 2002-03 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee has filed the copies of the sale deeds of the aforesaid property which was sold by way of four sale deeds. The first sale deed is placed at page 23 onwards, second sale deed at page 36 onwards, third sale deed at page 51 onwards and fourth sale deed at page 59 onwards. All the sale deeds are registered sale deeds dated 16th June, 2001. In other words, the transaction was completed in assessment year 2002-03. The assessee had also received the permission from the income tax department for the sale of the said property as required in Form No. 34A. Once the transaction had been completed in assessment year 2002-03, it is not discernible how the cash component if any, was to be taxed in the hands of the assessee in assessment year 2004- 05. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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