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TMI Blog2018 (10) TMI 1446X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 29.11.2006). The returns of income were filed for assessment year 2006-2007 and earlier assessment years quoting the PAN AAJFS9814M. For the earlier assessment years, returns of income were duly accepted and the assessments were completed. It is not the case of AO that the return for the assessment year 2006-2007 was not filed at all. The assessee has duly paid the advance tax and also claimed TDS and self-assessment tax. The scrutiny notice u/s 143(2) was duly issued to the assessee quoting the old PAN. However, the scrutiny assessment got time barred and notice u/s 148 was issued for the sole reason that no return of income was filed for the assessment year 2006-2007. This reason stated for reopening the assessment is on wrong assu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment years. Subsequently, the Department vide letter dated 03.04.2007 intimated the assessee that its PAN got changed to AAICS8020K. Thereafter all the returns including the return filed for assessment year 2007-2008 were filed mentioning the new PAN allotted. For the concerned assessment year 2006-2007, the case was selected for scrutiny by issuance of notice u/s 143(2) of the I.T.Act (Notice dated 30.07.2007), wherein the old PAN was quoted. In response to the notice issued u/s 143(2) of the I.T.Act, the details / information sought by the Assessing Officer was furnished. However, no order u/s 143(3) of the I.T.Act was passed and the assessment was time barred. 4.1 Thereafter the Assessing Officer issued notice u/s 148 of the I. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... various additions / disallowances, which are detailed below:- Disallowance of deduction claimed u/s 10B of the Act. Rs.19,30,42,111 Disallowance of depreciation on account of state investment subsidy ₹ 2,00,550 Wrongful inclusion of miscellaneous income under income from other sources ₹ 2,69,745 Disallowance under section 14A of the Act. ₹ 49,381 5. Aggrieved by the assessment completed u/s 144 r.w.s. 147 of the I.T.Act, the assessee preferred an appeal to the first appellate authority. The CIT(A) vide his order dated 15.04.2016 quashed the reassessment order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onse to notice u/s 148, the assessee had filed a letter dated 25.04.2012 stating the return filed originally on 29.11.2006 may be treated as a return for the purpose of the said notice. In the same letter, the assessee had sought for the reasons stated for reopening the assessment. The Assessing Officer vide his letter dated 01.05.2012 had furnished the reasons recorded. The sole reason for reopening the assessment was that the assessee had violated the provisions of section 139 of the I.T.Act, since no return of income was filed, and therefore, income chargeable to tax has escaped assessment within the meaning of section 147 of the I.T.Act. The assessee vide its letter dated 29.05.2012 filed objections to the reassessment. It was submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and notice u/s 148 was issued for the sole reason that no return of income was filed for the assessment year 2006-2007. This reason stated for reopening the assessment is on wrong assumption of jurisdiction and not based on relevant material. Therefore, the CIT(A) was justified in cancelling the reassessment order passed u/s 144 r.w.s. 147 of the I.T.Act. Consequently, the additions made in the reassessment does not survive and has been rightly deleted by the CIT(A). It is ordered accordingly. CO No.25/Coch/2016 : by the Assessee : 8. In the assessee s cross objection, grounds are raised with regard to the merits of the addition. Since the reassessment passed u/s 144 r.w.s. 147 of the I.T.Act is quashed, the addition on merits ..... X X X X Extracts X X X X X X X X Extracts X X X X
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