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TMI Blog2012 (7) TMI 758X X X X Extracts X X X X X X X X Extracts X X X X ..... 5-2012 - SHRI BHAVNESH SAINI, SHRI A.L. GEHLOT, JJ. Appellant by : Shri Pradeep Singh Gautam, Jr. D.R. Respondent by : Shri Sahib P. Satsangee, C.A. ORDER Per Bhavnesh Saini, J.M.: This appeal by the Revenue is directed against the order of ld. CIT(A)-II, Agra dated 08.03.2010 for the assessment year 2005-06. 2. Briefly, the facts of the case are that the assessee filed return of income on 14.02.2006. The assessee is in employment with LIC of India. The return was processed u/s. 143(1) vide intimation dated 31.03.2006. The notice u/s. 148 dated 10.05.2006 was issued and served upon the assessee. The assessee in response to notice u/s. 148 of the IT Act submitted that the return already filed on 14.02.2006 may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n already filed are not terminated. A return of income filed in the form prescribed along with an application for refund under section 237 of the Act is a valid return. Filing of return in the form prescribed under section 139 of the Act along with the application for refund is not an empty formality. It assumes importance if such return had not been filed earlier. 2.1 The ld. CIT(A) accepted the contention of the assessee and held that when the statutory time limit is available with the AO for issue of notice u/s. 143(2) of the Act, then the notice u/s. 148 cannot be issued during the pendency of proceedings. The notice u/s. 148 was issued on 10.05.2006. Therefore, initiation of proceedings by the AO by issuing notice u/s. 148 was not j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luer and the value returned by the assessee, the notice of reassessment valid. 5. On the other hand, the ld. counsel for the assessee reiterated the submissions made before the ld. CIT(A) and submitted that the issue is covered in favour of the assessee by the decisions relied upon before the ld. CIT(A) and these are the direct decisions, which apply in favour of the assessee and against the Revenue. 6. We have considered the rival submissions and the material on record. It is well settled law that unless the return of income already filed and disposed of, notice for reassessment u/s. 148 cannot be issued. i.e., no reassessment proceedings can be initiated so long as the assessment proceedings pending on the basis of the return already ..... X X X X Extracts X X X X X X X X Extracts X X X X
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