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TMI Blog2014 (6) TMI 568X X X X Extracts X X X X X X X X Extracts X X X X ..... cepted in the preceding two years - if the AO had any doubt about the correctness of the agricultural income disclosed and he wanted to verify the same, he ought to have issued notice u/s 143(2)(ii) within the time limit permissible under the proviso to above sub-section - Having failed to issue the notice u/s 143(2)(ii) with the period of limitation, Section 148 cannot be invoked to get the extended time limit for verification of the correctness of the income returned – thus, the issue of notice u/s 148 was not valid – Decided in favour of Assessee. Estimation of the agricultural income – Held that:- The assessee has not maintained any regular books of account with regard to agricultural income - after several years, the AO was not just ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1998-99 1999-2000 2000-2001 Income declared 2,10,000/- 4,89,460/- 5,49,480/- Agricultural Income 2,50,000/- 3,00,000/- 4,50,000/- Date of filing of return 29-11-98 10-03-2000 30-01-2001 Return was processed u/s 143(1). The assessee has shown agricultural income on estimated basis. The assessee was given a notice U/s 133(6) dated 24-03-2005 to explain that the receipts and expenditure in relation of the agricultural income and produce the sales and bills of the agricultural produce sold in the above mentioned assessment years. The assessee vide his reply dated 28-03-2005 stated that the assessee has no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve that in respect of which agricultural income shown at Rs.2,50,000/-, 3,00,000/- and 4,50,000/- chargeable to tax for the Asstt. Years 1998-99, 1999-2000 2000-2001 respectively has escaped assessment within the meaning of section 147 of the Income Tax Act, 1961. Issue notice u/s 148 of the Income Tax Act, 1961. Accordingly approval from Additional Commissioner of Income Tax/Commissioner of Income Tax is being taken. (Saroj Kumar Dubey) Asstt. Commissioner of Income Tax Circle-1 Meerut 4. From the above, it is evident that the assessee had filed the return for AY 1998-99 in December, 1998, for AY 1999-2000 in March, 2000 and for AY 2001-02 in January, 2001. No notice under Section 143(2) was issued and the income returned wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the assessee a notice requiring him, on a date to be specified therein, either to attend his office or to produce, or cause to be produced, any evidence on which the assessee may rely in support of the return: [Provided that no notice under clause (ii) shall be served on the assessee after the expiry of six months from the end of the financial year in which the return is furnished.]]. 5. From the above, it is evident that clause (ii) of sub-section (2) of Section 143 is applicable when the Assessing Officer wants to examine the correctness of the income disclosed in the return of income. Proviso to above sub-section provides the time limit within which the notice can be issued under Section 143(2)(ii). If we read the reasons reco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 cannot be invoked to get the extended time limit for verification of the correctness of the income returned. In view of the above, we are of the opinion that issue of notice under Section 148 was not valid. The same is quashed. Consequentially, the assessment order passed in pursuance to notice under Section 148 is also quashed restoring the original assessment order. 5.1 The assessee has raised various grounds challenging the addition made in the order of reassessment. Since we have already quashed the order of reassessment, these grounds do not survive for adjudication. ITA Nos.3864/Del/2013 3865/Del/2013 :- 6. The only ground raised in these two years is with regard to estimation of the agricultural income by the Assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X
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