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TMI Blog2022 (7) TMI 429X X X X Extracts X X X X X X X X Extracts X X X X ..... 06.2004 before the expiry of time limit for completion of assessment. As the issue is covered and the facts are very clear that once the time limit for issuance of notice u/s. 143(2) of the Act was available with the Assessing Officer up to 31.10.2004, the AO can resort to the notice u/s. 143(2)(ii) of the Act and no need for issuing of the notice u/s. 148 of the Act as held in TCP LTD. [ 2009 (4) TMI 396 - MADRAS HIGH COURT] and we quash the assessment proceedings and allow this CO of the assessee. - ITA No. 2215/Chny/2016 and CO No. 125/Chny/2016 in ITA No. 2215/Chny/2016 - - - Dated:- 29-6-2022 - SHRI MAHAVIR SINGH , VICE PRESIDENT AND SHRI MANOJ KUMAR AGGARWAL , ACCOUNTANT MEMBER For the Appellant : R. Vijayaraghavan , Advo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeding u/s. 147 r.w.s. 148 of the Act as ab initio void and unsustainable in law. Ld. Sr. DR agreed that jurisdiction issue is raised in CO by the assessee. The grounds raised in CO and issue is as regards to the reassessment proceedings initiated u/s. 147 r.w.s. 148 of the Act as an initio void and unsustainable in law. For this, assessee has raised following two grounds read as under: 1. The learned CIT(A) ought to have quashed the assessment proceedings r.w. section 147 as ab initio void and unsustainable, in the facts and the circumstances of the case, and in law. 2. For these and other grounds of cross objections that may be raised at the time of the hearing of the appeal, the order of the learned CIT(A) is opposed to the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gs for issuance of notice u/s. 143(2)of the Act was pending in terms of section 143(2)(ii) of the Act, the AO would have issued notice before the expiry of 12 months from the end of the month in which assessee filed its return u/s. 139(1) of the Act. Ld. Counsel for the assessee stated that this issue is clearly covered by two decisions of Hon'ble Madras High Court in the case of CIT vs. Qatalys Software Technology (2009) 308 ITR 249 and CIT vs. TCP Limited (2010) 323 ITR 346. Ld. Counsel for the assessee rests his arguments. 6. On the other hand, Ld. Sr. DR could not controvert the facts situation that the notice u/s. 147 r.w.s. 148of the Act dated 03.06.2004 was issued before the expiry of time limit available with the AO for issua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r issuance of notice u/s. 143(2) of the Act was available with the Assessing Officer up to 31.10.2004, the AO can resort to the notice u/s. 143(2)(ii) of the Act and no need for issuing of the notice u/s. 148 of the Act as held by Hon'ble Madras High Court as held above and we quash the assessment proceedings and allow this CO of the assessee. 8. It is noted that since we have adjudicated the issue of assessee's CO, quashing reassessment proceedings, we do not go into the appeal of the Revenue which has become infructuous and dismissed. 9. In the result, the appeal filed by the Revenue is dismissed as infructuous and the CO filed by the assessee is allowed. Order pronounced on 29th June, 2022. - - TaxTMI - TMITax - Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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