TMI Blog2008 (2) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... action under section 154 could be initiated once notice under section 143(2) of the Act was issued to the assessee - 403 of 2003 - - - Dated:- 22-2-2008 - DEEPAK VERMA and ANAND BYRAREDDY JJ. M. V. Seshachala for the appellants. Y. V. Raviraj and S. Parthasarathi for the respondents. JUDGMENT 1. Heard Sri M. V. Seshachala, learned counsel for the appellants and Sri Y. V. Ravir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct as in the meanwhile notice under section 143(2) of the Act dated November 18, 1993, had already been initiated ?" 4. Short facts, material for deciding the appeal in a nutshell, are as under: "The assessee is an individual. For the assessment year 1993-94 he had filed a return of income declaring a loss of Rs. 2,39,87,765 on August 30, 1993. This return of the assessee came to be processe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... December 22, 1995, and additional tax was levied in a sum of Rs. 21,44,599. The assessee feeling aggrieved by the said levy of tax, preferred an appeal before the Commissioner of Income-tax (Appeals) -III, Bangalore. The Commissioner of Income-tax (Appeals) was pleased to hold that no action under section 154 of the Act could be initiated once notice under section 143(2) of the Act was issued to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion that the question as projected herein stands answered by the judgment of the Supreme Court in the case of CIT v. Gujarat Electricity Board [2003] 260 ITR 84. The following observations of the Supreme Court are relevant for deciding the aforesaid question, which read thus (page 85): "There is no dispute that section 143(1) (a) of the Act enacts a summary procedure for quick collection of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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