TMI Blog2018 (8) TMI 2095X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax, Delhi-V through a letter stating that the petitioner/assessee, subsidiary of an overseas company, had a dependent Permanent Establishment (PE) in India whose activities were subject to Arms Length Price (ALP) determination under Section 92CA - HELD THAT:- Notice was issued in these proceedings; the interim order permitted the Revenue to continue with the re-assessment proceedings pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at notice was issued on 09.01.2014. This aspect was highlighted not in the petition but in the course of the proceedings in the rejoinder filed by the assessee sometime in July, 2016. It sought to follow this up through an amendment application - In the light of these events, which are both subsequent to the initiation of the re assessment proceedings, the entire purpose for re-assessment, assumin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Kumar, Inspector, Income Tax Department. ORDER The petitioner s grievance is with respect to the re-assessment notice issued on 15.02.2013 for Assessment Year (A.Y.) 2006-07. The re-assessment notice was premised upon the information received by the Office of the Commissioner of Income Tax, Delhi-V through a letter dated 23.11.2012 stating that the petitioner/assessee, subsidiary of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he orders of reference) resulted in TPO determination on 29.01.2015. The TPO held that no adjustment was called for having regard to the overall circumstances of the case. This fact though subsequent to the filing of the petition is relied upon by the assessee. Additionally, it is contended that pursuant to the reassessment notice the AO did not issue any further notice as called for by law unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Pr. Commissioner of Income Tax vs. Silver Line , (2016) 383 ITR 455 and the other subsequent decisions have ruled that omission to issue notice under Section 143(2) of the Act within the time stipulated in respect of any assessment is fatal. As a result of the above discussion, the reassessment notice dated 15.02.2013 and all consequent proceedings emanating from it are hereby quashed. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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