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TMI Blog2022 (11) TMI 1029X X X X Extracts X X X X X X X X Extracts X X X X ..... me that the AO has proceeded to initiate reassessment proceedings u/s 147 of the Act and issued notice u/s 148 on incorrect facts without application of mind. See AJENDRA PAL SINGH C/O. SANJEEV ANAND AND ASSOCIATES case [ 2022 (6) TMI 1322 - ITAT DELHI] Thus reassessment proceedings u/s 147 of the Act and notice u/s 148 of the Act has been issued without application of mind by the AO on the basis of incomplete information without any verification of the facts and without complying with the mandatory requirement of section 147 and 148 of the Act. Consequently, the impugned reassessment order passed u/s 147 r.w.s 143(3) of the Act is not sustainable being bad in law and, thus, the same is quashed - Decided in favour of assessee. - ITA N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- on account of cash deposit in bank account of assessee u/s 68, is bad in law and against the facts and circumstances of the case. 5. That the appellant craves for leave to add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other. 3. The ld. Counsel of the assessee submitted that the assumption of jurisdiction in reopening the impugned assessment order u/s 147 r.w. section 143(3) is bad in law and against the facts and circumstances of the case as the AO has not complied with the statutory conditions as stipulated u/ss 147 to 151 of the act. The ld. Counsel also submitted that the assumption of jurisdiction in initiating reassessment proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return of income for AY 2011-12 much earlier than 23.03.2018. Therefore, initiation of reassessment proceedings has been done without application of mind and the sole premise for initiating the reassessment proceedings itself is baseless and wrong. Therefore, the reassessment proceedings and impugned reassessment order may kindly be quashed. The ld. Counsel also placed reliance on the judgement of the jurisdiction High Court of Delhi in the case of Northern Exim (P) Ltd. vs. DCIT (2013) 357 ITR 586 (Del) and submitted that no income chargeable to tax had escaped assessment when the reasons recorded for issue of notice u/s 148 of the Act were factually incorrect. The ld. Counsel had also placed reliance on the decision of the ITAT Delhi in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , I am of the considered view that from the copy of the reasons recorded placed before me clearly reveals that the Assessing Officer started reassessment proceedings on the basis of PAN/AIR information that the assessee has sold immovable property during F.Y. 2008-09. In the last para of reasons AO mentioned that no ITR has been found to have been filed by the assessee. During the arguments, Learned Counsel drew our attention towards page 3 of assessee s paper book i.e. proforma for recording the reasons for initiating the proceedings u/s 148 of the Act wherein Column Serial No.2, the AO states permanent account number of the assessee is not available and in Column Serial No.8, the AO wrote that no return has been filed by assessee. 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in law. In view of foregoing discussion, I reach to the contention the impugned assessment order dated 29.09.2016 passed u/s 147/144 of the Act is not sustainable being bad in law thus the same is quashed. Accordingly, the legal ground No.1 and 2 of assessee are allowed. 7. In view of the above, I am compelled to hold that the reassessment proceedings u/s 147 of the Act and notice u/s 148 of the Act has been issued without application of mind by the AO on the basis of incomplete information without any verification of the facts and without complying with the mandatory requirement of section 147 and 148 of the Act. Consequently, the impugned reassessment order passed u/s 147 r.w.s 143(3) of the Act is not sustainable being bad in law a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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