9911796707
TMI Blog2023 (6) TMI 570X X X X Extracts X X X X X X X X Extracts X X X X ..... d under the Income-tax Act on the online portal and the manual return filed by the assessee is no return in terms of the Income Tax Rules, 1962, the ld. Assessing Officer was not required to issue any notice u/s 143(2) of the Act. Thus, Ground No. 1 raised by the assessee is dismissed. Proceedings initiated u/s 147 without application of mind and simply accepting the information without any further enquiry - No merit in this ground of the assessee because once the reasons were issued to the assessee sufficient opportunity was provided to establish the source of credits in the bank account stated in the information received from the Investigation unit - no mechanism for the income tax authorities to examine the fact that the alleged two ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , A/R For the Revenue : Shri P.P. Barman, Addl. CIT, Sr. D/R ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the CIT(A) ], passed u/s 250 of the Income-tax Act, 1961 (hereinafter the Act ), dated 03/01/2023 for the Assessment Year 2013-14. 2. The assessee has raised the following grounds of appeal:- 1. For that the assessment is bad in law since notice u/s 143(2) was never issued by the Ld. AO when the assessee duly filed the return u/s 148, when the original return was filed in accordance with law, the AO was not correct in not accepting the return since the same was filed in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olkata about huge credits in two proprietorship concern of the assessee, namely, Laxmi Trading Co. and Ganapati Traders. Information was also received that Rs. 67,17,925/- and Rs. 56,69,791/- having been credited in two separate bank accounts held with HDFC Bank, Manicktala Branch in the name of two sole proprietorship concern as referred above. Based on this information, case of the assessee was reopened by issuance of notice u/s 148 of the Act. The assessee filed manual return, even though it was required to file the return on the Income-tax portal and, therefore, the return manually filed was not accepted. During the course of assessment proceedings, the assessee did not file any details as a result of which the ld. Assessing Officer com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee did not file the return online and opted to file a manual return which was not in accordance to the Income-tax Act, Rules Regulations. Since the assessee filed the return manually, it was not possible for the revenue authorities to replicate the return on the system and the same was communicated to the assessee vide letter dt. 31/07/2021, but the assessee did not comply to the said letter and did not file any return online. The requirement of notice u/s 143(2) of the Act comes into effect only when the assessee has filed the return in compliance to the notice u/s 148 of the Act and to carry out the scrutiny proceedings ld. Assessing Officer should issue notice u/s 143(2) of the Act since it is a statutory requirement. However, as in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tended that the assessee was not provided reasonable opportunity of being heard, we notice that the assessee has been contending before the ld. First Appellate Authority that the alleged credits in the bank accounts of the two sole proprietorship concern are business receipts and the ld. Assessing Officer ought to have estimated the net profit on the difference between the turnover on which the net profit was declared and the total amount deposited in the bank account. We, however, note that the assessee has not filed the financial statement of the sole proprietorship concerns as to whether they have been disclosed in the return of income. No details have been filed about the nature of business being carried out in these two proprietorship ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
