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TMI Blog2018 (2) TMI 1786X X X X Extracts X X X X X X X X Extracts X X X X ..... h generated capital gains. The same was declared only in the return of income which was submitted on 20/03/2015 After the expiry of four years from the end of the relevant assessment year, no such notice shall be issued unless the Chief Commissioner or Commissioner is satisfied, on the reasons recorded by the Assessing Officer aforesaid, that it is a fit case for the issue of such notice. In a case other than a case falling under sub-section (1), no notice shall be issued under section 148 by an Assessing Officer, who is below the rank of [Joint] Commissioner, after the expiry of four years from the end of the relevant assessment year, unless the [Joint] Commissioner is satisfied, on the reasons recorded by such Assessing Officer, that it is a fit case for the issue of such notice.] [Explanation.-For the removal of doubts, it is hereby declared that the Joint Commissioner, the Commissioner or the Chief Commissioner, as the case may be, being satisfied on the reasons recorded by the Assessing Officer about fitness of a case for the issue of notice under section 148, need not issue such notice himself. As per section 151(2), the power to sanction was with CIT/Addl. CIT. Therefore, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 p.m. asking assessee to submit the following information, (i) Hard Copy of the Return of income for the Asst. year 2007-08, required to be filed as per notice u/s 148 dated 14.03.2014 (ii) to furnish the complete details of the all the immovable/movable properties sold during the Financial years 2006-07 to 2013-14 along with the copies of the sale deeds and purchase deeds (iii) Computation of total income, Profit and loss account, Balance Sheet and other Financial statements of the Business carried on, property income, if any, (iv) statement of Affairs, Capital Account etc. (5) Movable and Immovable properties statement (vi) Details of all bank accounts held by assessee along with copies of bank statements and (vii) Original TDS certificates and copies of challans paid. The assessee has neither filed Return of Income nor furnished the details called for in response to the above notice on the said date. After issue of several notices, a final notice was issued on 19/01/2015 requesting to furnish the information on or before 27.01.2015 failing which it will be construed that the assessee has no explanation to offer and assessment will be completed based on information available on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessment order that the Additional Commissioner of Income-tax has accorded permission for re- opening the case on 14-03-2014. 3. The C.I.T. (Appeals) is wrong in confirming the order of the assessing officer in spite of the plea of the assessee that the assessing officer was wrong in re-opening the assessment u/s. 147 on 12-03-2014 without processing the Return of income filed by the assessee on 10-02-2008. 4. The C.I.T (Appeals) is wrong in confirming the order of the assessing officer in spite of the plea of the assessee that the assessment completed u/s. 143(3) read with Section 147 on 31- 03-2015 without issuing any Notice u/s. 143(2) of the I.T. Act, 1961 is invalid in law. 5) The C.IT. (Appeals) is wrong in confirming the Order of the assessing officer, who adopted the deemed sale consideration of ₹ 21,38,750/- under Section 50C of the I.T. Act, 1961 prevailing on the date of registration, ignoring the fact that the assessee entered Into sale agreement on 09-07-2005 and actually received sale consideration of ₹ 8,55,500/- only, as per the Sale Agreement. 6) The C.I.T. (Appeals) is wrong in not considering the fact that the registration of the sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , AO has to complete the assessment on or before 31/03/2015, the assessee chose to file return of income only on 20/03/2015 by adopting delay tactics. There was no time for AO to issue and serve the notice u/s 143(2) to assessee and complete the assessment. In this situation, assessee cannot expect to claim the benefit of issue of notice u/s 143(2) as the assessee is well aware of the assessment and chose to delay the submission of return of income. 8.1 The assessee has relied on the following cases: 1. ACIT Vs. Hotel Blue Moon, [2010] 321 ITR 362 (SC) 2. CIT Vs. Amarchand Sharma and Udani, [2014] 364 ITR 203 (A.P.) 3. CIT Vs. Cebon India Ltd., [2010] 229 CTR 188 (P&H) 4. CIT Vs. Deep Baruah [2010] 329 ITR 362 (Gau.) 5. CIT Vs. CPR Capital Services Ltd., 2011 330 ITR 43 (Del.) 6. CIT Vs. Pawan Gupta [2009] 318 ITR 322. (Del.) 7. CIT Vs. Rajeev Sharma [2011] 336 ITR 678 (All.) 8. Alpine Electronics Asia Pvt. Ltd. Vs. Director General of Income-tax & others [2012] 341 ITR 247 (Del.) 9. CIT Vs. H. Gouthamchand, 2012] 204 Taxman 86 (Kar.) 10. CIT Vs. Adarsh Travel Bus Service, [2012] 204 Taxman 114 (Del.) 11. Manish Prakash Gupta Vs. CIT, [2012] 249 CTR 57 (All.) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is a fit case for the issue of such notice. (2) In a case other than a case falling under sub-section (1), no notice shall be issued under section 148 by an Assessing Officer, who is below the rank of [Joint] Commissioner, after the expiry of four years from the end of the relevant assessment year, unless the [Joint] Commissioner is satisfied, on the reasons recorded by such Assessing Officer, that it is a fit case for the issue of such notice.] [Explanation.-For the removal of doubts, it is hereby declared that the Joint Commissioner, the Commissioner or the Chief Commissioner, as the case may be, being satisfied on the reasons recorded by the Assessing Officer about fitness of a case for the issue of notice under section 148, need not issue such notice himself." As per section 151(2), the power to sanction was with CIT/Addl. CIT. Therefore, the sanction of notice u/s 148 in the instant case by Addl. CIT was proper. Therefore, the ground raised by the assessee is dismissed. 8.3 With regard to other grounds of appeal Nos. 5, 6 & 7 are not argued before us and, therefore, the same are dismissed as not pressed. Even otherwise, the provisions of section 50C become applicable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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