Case Law Details
Shri Ramesh Salecha HUF Vs. ITO (ITAT Mumbai)
Revenue could not produce before us any evidence to show that notice under sections 143(2) has been issued or served to the assessee the re-assessment made under sections 143(3) read with section 147 is void ab-initio in view of the above decisions of the Honorable Allahabad High Court in the case of ACIT v. Greater Noida Industrial Development Authority (supra) and the Honorable Delhi High Court in the case of ACIT v. Geno Pharmaceuticals (supra). Thus, respectfully following the said decisions we hold that the re-assessment made under sections 143(3) read with section 147 of the Act is legally unsustainable. Thus, quash the re-assessment order passed by the assessing officer under sections 143(3) read with section 147 of the Act dated 31-1-2014 for the assessment year 2011-12 under appeal.
FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-
This appeal is filed by the assessee against the order of the Learned Commissioner (Appeals)-17, Mumbai dated 19-3-2015 for the assessment year 2011-12 arising out of the Assessment Order passed under sections 143(3) read with section 147 of the Income Tax Act.
2. The assessee in his appeal raised the following grounds :–
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OFFHAND
In one’s longstanding firm conviction, the principal issue is centered on a very basic, rather elementary enactment; interpretation of which ought not to have posed any genuine difficulty, upfront. As such, by any sane thinking, the issue ought to have been, instead of being prolonged for years, regarded as clinched – fully finally settled long, long ago. A mere cursory look through the ITAT Order , particularly the host of case law cited and the long winding arguments of the Revenue, following beaten track, by reason of which the ITAT was obligated to discuss at such a great length , but ultimately to reach the only possible conclusion, rightly so in assessee’s favor, might have left anyone dazed and in utter bewilderment, over the rock bottom quality of the ‘legal system’, in its comprehensive sense, and the tax regime, in place !