9911796707
TMI Blog2021 (1) TMI 285X X X X Extracts X X X X X X X X Extracts X X X X ..... e case as could be culled out from the impugned orders are that the assessee is a Pvt. Ltd company and they have filed their return of income on 14.10.2010 declaring the income at Rs. Nil/-. The case was processed u/s 143(1) of the Act. Subsequently, information was received by AO from the Investigation Wing of the Department that the assessee is beneficiary of taking accommodation entries of Rs. 1,12,00,000/- in the garb of share capital/premium from entry providers namely Shri Pradeep Kumar Jindal Group in the names of following entities: - S. No. Name and address of the beneficiary ( As per ITO) Amount Date of entry Entry provider by PAN No. of beneficiary 1. Yogi Properties Pvt. Ltd 1500000 17.06,2009 Jeneja Nagpal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. During the raising of objections, assessee contended that the notice u/s 148 was not issued and dispatched before 31.03.2017. However, AO rejected the objection and provided the proof of service of said notice as per the annexures to the order disposing objections. Further, during the assessment proceedings, AO examined the genuineness of share application money received by him from various share applicants and found that despite of giving multiple opportunities, assessee failed to comply the notices and show cause letters and in the case of two persons namely, M/s. Mayank Medilab and Mr. Juneja Nagpal, whatever details were filed, do not establish the creditworthiness of share applicants. The statements of Shri Rakesh Bobal, director of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,000/- which amounted to Rs. 3,36,000/- was also added by AO to the income of the assessee. Finally, the total taxable income of assessee was determined to Rs. 1,15,36,000/- against the Nil income declared by assessee. 4. Assessee challenged the said order before the Ld. CIT(A) on several grounds stating that the proceedings under section 147/143(3) of the Act are without jurisdiction illegal and unsustainable as no notice under section 148 was issued on or before 31/3/2017 on which date the limitation for issuance of such notice stood expired; that there was no application of mind or independent enquiry by the learned Assessing Officer while framing the assessment under section 147/143(3) of the Act and it was in violation of the directio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act is dated 29/3/2017 and the limitation for its issuance under section 151 of the Act expires by 31/3/2017. According to the Revenue such notice was dispatched on 31/3/2017 itself before office hours and it was sent by speed post with the receipt No. ED481673181IN. Even according to the learned Assessing Officer vide letter dated 4/12/2017 that the notice was dispatched from the office on 31/3/2017 and was booked for speed post on 1/4/2017. Assessee, however, made enquiries with the postal department and came to know from the postal department by letter dated 5/12/2017 that ED481673181 was received in their office on 30/6/2017 and was delivered to the addressee on 3/7/2017. To counter this argument, Revenue relies upon their office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'ble Gujarat High Court in the case of Kanubhai M Patel vs. Hiren Bhatt 334 ITR 25 (Guj) and submitted that for the purpose of reckoning the limitation in respect of the reassessment notice, mere signing of notice is not sufficient, but the date of issue would be the date on which the notice was handed over for service to the proper officer. Inasmuch as there is no trustworthy evidence to show that the notice was in fact dispatched on 31/3/2017 itself, he pleaded that such notice could not be taken to have been issued well within the time and the proceedings are barred by limitation. 9. As referred to above, the notice sent by email is not to correct address of the assessee; that there is no evidence to clinch the issue that such notice wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... because that is the date on which the notice is shown to have been handed over to the postal department for service. No material to rebut this conclusion is emanating from any independent source. For these reasons we hold that there is no notice that was issued in this matter well within this time stipulated under section 151 of the Act and the proceedings are barred by limitation. On this score the assessee is entitled to seek the crashing of proceedings under section 147 of the Act. We therefore, hold that the assessment order under section 147/143(3) of the Act cannot be sustained. We answer grounds No. 1 and 2 accordingly. 10. In view of the fact that the assessee got relief on grounds No. 1 and 2 itself, we deem that any discussion o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
