9911796707
TMI Blog2014 (2) TMI 747X X X X Extracts X X X X X X X X Extracts X X X X ..... rder for design, manufacture, supply of 220, 132 kv XLPE insulated UG Cable and accessories against specification No. JB 24 JBIC 1-2 XLPE Cable/2008. The scope of work of LSCSL under the offshore supply contract entails CIF delivery of goods from outside India to Chennai, India. The title to the plant and equipment supply under the off-shore supply contract shall be transferred in favour of Indu outside India. 2. In consideration, for the scope of work under the off-shore supply contract, LSCSL would receive USD 4,50,36,037.40. It was also agreed between LSCSL and Indu that the aforesaid payment would be paid by Indu outside India through irrevocable Letter of Credit (L/C). 3. Presenting the above facts the applicant seeks ruling on the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Construction Corporation, AAR/1009/2010 dated 25.8.2011 and NetApp B.V., AAR No.955 of 2010, it was submitted that the question was already pending before Income-tax Authority. It was further submitted that issue of notice under section 143(2) is only procedural and the Assessing Officer can serve the notice on the assessee upto expiry of six months from the end of the financial year in which return is furnished. The notice was issued within the limited time permitted under the Act though it was issued after filling of the application before the authority. The question was, therefore, pending before the Assessing Officer till the time available to him under the proviso to section 143(2) of the Income-tax Act. It is, therefore, argued that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is no scope for examining or adjudicating any debatable issue that requires long drawn arguments. Again only in those cases where the Assessing Officer has reason to believe that any claim of losses, exemption, deduction, allowances or relief made in the return is inadmissible or if he considers it necessary or expedient to ensure that the assessee has not under-stated the income or has not computed excessive loss or has not under-paid the tax in any manner, he can serve notice under section 143(2). Before or without issuing notice under section 143(2) or notice under section 142(1) in cases whether return is not filed, there is no jurisdiction to examine or adjudicate debatable issue claimed or shown in the return of income. 8. The decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oned in section 245R(2). 9. In the case of Hyosung Corporation Korea (AAR/1138,1140,1144 & 1150 of 2011) this authority has held that mere filing of return does not attract bar on the admission of the application as provided in section 245R(2) of the Act. We are of the view that only when the issues are shown in the return and notice under section 143(2) is issued, the question raised in the application will be considered as pending for adjudication before the Income-tax Authorities. The Revenue’s contention that notice u/s 143(2) was issued within the stipulated time will not affect our stated position because without issuance of the notice, the Assessing Officer does not have jurisdiction to examine and adjudicate the issues raised in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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