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TMI Blog2023 (11) TMI 1002X X X X Extracts X X X X X X X X Extracts X X X X ..... s a delay of four hundred and thirty (430) days in re-filing the appeal. 2. Although the period of delay is substantial, we propose to condone the same as we intend to take up the appeal for hearing on merits. Accordingly, the delay in re-filing is condoned, and disposed of in the aforesaid terms. ITA 609/2023 3. This appeal concerns Assessment Year (AY) 2013-14. 4. Via, the instant appeal the appellant/revenue seeks to assail the order dated 12.11.2021 passed by the Income Tax Appellate Tribunal [in short, "Tribunal"]. 5. Before the Tribunal, a challenge was raised by the appellant/revenue to the order dated 17.11.2016 passed by the Commissioner of Income Tax (Appeals) [in short, CIT(A)]. 6. The CIT(A) had quashed the assessment ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the 'unsecured loans' received by it. Concerning 'unsecured loans' received from sister concerns, the respondent/assessee seems to have furnished confirmations, copies of accounts, balance sheets, and bank statements. However, for non-sister concerns, only the addresses were furnished. 11.1 To verify the identity, creditworthiness, and genuineness of the transaction entered into between non-sister concerns, and the respondent/assessee, notices were issued to the non-sister concerns. A copy of the notices was also furnished to the respondent/assessee with a request to produce the parties and evidence that establishes the genuineness of the subject transactions. 12. In the end, the AO added only Rs. 7,38,80,000/- to the income on the ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal have confirmed the fact that no notice under Section 143(2) was issued. Therefore, what remains to be decided is whether the absence of notice, under Section 143(2), before framing the assessment order dated 30.03.2015, would render the assessment order defective, having regard to the provisions of Section 292BB. 18. The argument advanced on behalf of the appellant/revenue that the absence of notice under Section 143(2) would not render the assessment order under Section 143(3) defective does not impress us as the import of Section 292BB is to remedy infirmities that arise in the service of notice under the Act. However, this is a case, where no notice under Section 143(2) was issued, as noted by the CIT(A) and affirmed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e decision in Hotel Blue Moon's case (supra). The issue that however needs to be considered is the impact of Section 292BB of the Act. 9. According to Section 292BB of the Act, if the assessee had participated in the proceedings, by way of legal fiction, notice would be deemed to be valid even if there be infractions as detailed in said Section. The scope of the provision is to make service of notice having certain infirmities to be proper and valid if there was requisite participation on part of the assessee. It is, however, to be noted that the Section does not save complete absence of notice. For Section 292BB to apply, the notice must have emanated from the department. It is only the infirmities in the manner of service of notice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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