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TMI Blog2023 (6) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... tice - As held in the case of Deere Company [ 2021 (11) TMI 503 - ITAT PUNE] has held that the defect notice issued u/s 139(9) is having effect of creating liability under the Act, which the assessee denies or would jeopardize refund. Hence it will get covered within the ambit of sec. 246A(1)(a) of the Act. Defect notice issued u/s 139(9) is appealable, if the assessee denies its liability or if it would jeopardise the refund. As A.R submitted that the refund of about Rs.5.00 lakhs is stuck in this year due to non-processing of return of income filed by the assessee, we hold that the defect notice issued u/s 139(9) is appealable one. Accordingly, we set aside the order passed by Ld CIT(A) and hold that the assessee could file appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elates to the assessment year 2019-20. The assessee is aggrieved by the decision of Ld CIT(A) in dismissing the appeal of the assessee as non-maintainable. 2. The facts relating to the case are stated in brief. The assessee is a stock broker. It filed its return of income for the year under consideration on 21-09-2019 declaring a total income of Rs.3,82,74,330/-. The CPC issued a defect notice u/s 139(9) of the Act mentioning the following as Error Description :- Error Code: 331 - Tax Payer has shown gross receipts or income under the head Profits and Gains of Business or Profession more than Rs.1 crore, however, the books of accounts have not been audited. Hence the CPC did not process the return of income filed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase. 4. On merits, the Ld A.R submitted that the assessee is not liable to get its accounts audited. Referring to the Profit and Loss account, the Ld A.R submitted that the gross business receipts of the assessee was Rs.92,95,722/- and the same is below the threshold limit of Rs.1.00 crore. He further submitted that the assessee has shown other income of Rs.6.62 crores in the Profit and Loss account, but the said income was declared under the head Capital gains and Other Sources. Accordingly, he reiterated that the gross business receipts of the assessee during the year under consideration was less than Rs.1.00 crore and hence it is not liable to get its accounts audited u/s 44AB of the Act. Accordingly, the Ld A.R submitted that the ret ..... X X X X Extracts X X X X X X X X Extracts X X X X
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