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TMI Blog2013 (2) TMI 621X X X X Extracts X X X X X X X X Extracts X X X X ..... cording reasons issued notice under Section 147 of the Act for the Assessment Year 2002-03. The assessee participated in the reassessment proceeding. The reassessment was completed by making certain additions. The matter was carried in appeal and the appeal was allowed in part by the Commissioner of Income Tax (Appeals), Ghaziabad. Thereafter the matter was carried further in appeal before the Tribunal by the assessee. During the course of the appeal, the assessee raised the following ground. "Because the very initiation of proceedings u/s 147 are wrong and illegal as there is no mention of assessment year by the Assessing Officer in the reason recorded in the absence of the same the initiation of proceedings u/s 147 for A.Y.2002-03 are a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dhyay, learned Standing Counsel for the Department, submits that the appeal has been allowed by the Tribunal on a technical ground. The submission is that in view of Section 292B of the Act non-mentioning of the assessment year is of little consequence, in view of the fact that the assessee was not misled and it participated in the reassessment proceedings treating the assessment proceedings for the Assessment Year 2002-03. In reply, the learned counsel for the respondent submits that the very initiation the reassessment proceeding is invalid as the assessment year is not mentioned in the reasons recorded by the Assessing Officer and the reasons do not disclose as to which assessment year the Department was in possession of the material th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... technicality cause of justice should prevail. No party can claim to have vested right in injustice being done because of some slip of pen, or omission causing no prejudice to anyone. The section is intended to ensure that an inconsequential technicality does not defeat justice. Nature of mistake will determine whether a return, order or proceeding is vitiated or not. The existence of a valid notice under Section 148 of the Act is a condition precedent, which has been complied with herein. The I.T.A.T. has set aside the reassessment order as in the reasons there is omission of the assessment year. In our considered view, the aforesaid section is fully attracted on the facts of the case. The argument of the learned counsel for the respo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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