9911796707
TMI Blog2024 (11) TMI 889X X X X Extracts X X X X X X X X Extracts X X X X ..... al is barred by limitation for about 192 days. The assessee has filed an application for condonation of delay wherein it has been stated that the order passed by the Ld. CIT(A) dated 16.03.2018 was obtained by the assessee on 25.06.2019 and the appeal was ultimately filed on 04.03.2020. Admittedly, there is delay of 192 days in filing the said appeal before us, the reason assigned for such delay are as under: i. Name of the assessee's company was struck off from ROC records and was dissolved by and under the order passed on 08.08.2018. Subsequently, the name of the assessee's company was restored and revived in ROC records by and under the NCLT's order dated 30.07.2020. ii. The assessee was functioning through a rented premises and due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore, admitted. 5. The assessee has raised additional ground of appeal challenging the initiation of proceeding under Section 147 of the Act and further completion of assessment under Section 143(3) r.w.s 147 of the Act as without satisfying the statutory pre-condition envisaged in the above section and without jurisdiction and, therefore, liable to be quashed. As all the material facts are on record and this additional ground raised is purely legal in nature relying upon the judgment passed by the Hon'ble Apex Court in the case of National Thermal Power Company Ltd. Vs. CIT, reported in (1998) 229 ITR 383 (SC), the assessee has made a prayer for admission of the same by us as the said ground has been raised for the first time before the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom Surendra Kumar Jain group company a scanned copy whereof has also been enclosed to the reason recorded along with the report of the investigation wing annexed to the paper book file before us. Relevant to mention that all the books of account and other relevant facts of these companies were found at the resident of Shri Surendra Kumar Jain and Shri Virendra Kumar Jain itself and no document was found at the other addresses which was mentioned in the statutory records of these companies. After careful scrutiny of the information received from the Investigation wing and particularly on the basis of the copies of seized documents and upon verification of assessment and appeal orders in the case of Jain brothers led to the irresistible conc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 148 is to be resorted to. In that view of the matter the initiation of reassessment proceeding and consequent order including reassessment order dated 28.12.2016 is void-ab-initio and not sustainable in eye of law. In support of his argument he has relied upon the judgment passed by the Coordinate Bench in the case of Jasneet Kaur Chattwal Vs. ITO, Ward 25(3), Delhi in ITA No. 215/Del/2016 and the judgment passed by the Hon'ble Rajasthan High Court in the case of Shyam Sunder Khandelwal Vs. ACIT, reported in (2024) 161 taxmann.com 255 (Rajasthan). 8. The Ld. D.R. however, has not been able to controvert the said legal submission made by the assessee's counsel. 9. Under this facts and circumstances of the matter relevant provision of la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ticularly when the reason to believe is on the basis of search conducted on a third party and on the basis of documents unearthed during search of the said third party namely Shri Surendra Kumar Jain group of companies. 12. Under this facts and circumstances of the matter the judgment relied upon by the Ld. A.R has duly been considered. It appears that in the case of Jasneet Kaur Chattwal (supra) the initiation of proceeding was done under Section 148 of the Act and not 153C on the basis of the materials found and seized during the course of search and seizure operation on 26.03.2020 in the case of one Assen Kumar Gupta group and not the assessee, the initiation has been held to be null and void as the same ought to have been done under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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