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TMI Blog2019 (11) TMI 264X X X X Extracts X X X X X X X X Extracts X X X X ..... ying the same, how ITO Ward-2(5) NOIDA ca issue a notice at a wrong address. Not only that, even going by the records of deeds on the basis of which assessee s case was reopened that he has sold some immovable property at NOIDA, mentions address A-72, 1st Floor Sector 17, NOIDA whereas the address on which notice has been sent mention A-72N, Sector-17, NOIDA, which, as brought out by the ld. counsel is not an address at all. Also it is an admitted fact that neither notice u/s.148 has been served upon the assessee by the AO nor has been sent at a proper address. Thus, in absence of any valid service of notice, u/s.148, which is condition precedent for assuming the jurisdiction for reopening the case u/s.147, the entire proceedings gets vo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d immovable property at Noida, the assessee s case has been reopened u/s.147 by issuance of notice dated 16.03.2016 u/s.148. As observed by the Assessing Officer in the assessment order, none of the notices sent to the assessee including that all notices u/s.148 were complied with the assessee. Accordingly, the Assessing passed exparte order u/s 144 and had made addition of ₹ 1,95,20,000/- by holding that sale consideration as per Section 50C of the property was ₹ 3,95,20,000/- and index cost of acquisition was estimated by him at ₹ 2 crores. 3. Ld. CIT (A) has confirmed the addition and held that income is to be taxed at ₹ 1,93,00,806/- as Short Term Capital Gain and rejected all the objections of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service of this notice, a return in the prescribed form of ........................................... .......................................... ............................. in respect of which you are assessable for the said assessment year. This notice is being issued after obtaining the necessary satisfaction of the Pr. Commissioner of income Tax, Noida (Vinay Kumar) Income Tax Officer, Ward - 2(5), Noida Ld. Counsel then drew our attention to the reasons recorded by the Assessing Officer which was as under: An AIR information regarding sale of immovable property amounting to ₹ 96,00,000/- on 04.02.2009 has been received from C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and in support he relied upon the judgment of Hon ble Jurisdictional High Court in the case of Commissioner Of Income Tax vs. Shital Prasad Kharag Prasad, (2006) 280 ITR 541 (Alld.) 6. On the other hand, ld. DR strongly relied upon the Assessing Officer and ld. CIT (A) and submitted that in the case of non PAN financial transaction, the address mentioned for sale deed or lease deed is considered to be the address. In any case, the matter can be restored back to the file of the Assessing Officer to deal with the assessee s objection on the validity of notice u/s.148. 7. After considering the rival submissions and on perusal of the relevant material placed on record, we find that the assessee was regularl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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