Mideast Integrated Steels Ltd Vs ACIT (ITAT Delhi)
The case of Mideast Integrated Steels Ltd vs ACIT (ITAT Delhi) revolves around jurisdictional errors in the issuance of a notice under Section 143(2) of the Income Tax Act, 1961, and whether such errors can be cured under Section 292BB of the Act.
The cross-appeals stem from an order dated 09.11.2017 by the Commissioner of Income Tax (Appeals)-28, New Delhi, concerning the assessment year 2014-15.
The assessee’s counsel highlighted ground nos. 3 & 3.1, contending that the issue raised therein, being purely legal and jurisdictional, should be addressed first.
In ground nos. 3 & 3.1, the assessee challenged the validity of the assessment order dated 30.12.2016 passed under Section 143(3) of the Act.
The relevant facts are as follows: The assessee, a resident corporate entity engaged in manufacturing pig iron and mining iron ore, filed its return electronically on 26.12.2016. The Assessing Officer initiated scrutiny assessment and made additions for unexplained expenditure and purchases.
The assessee appealed, challenging the validity of the assessment order due to an allegedly invalid notice issued under Section 143(2) of the Act.
The argument centered on whether the notice, issued before the filing of the return, rendered the subsequent assessment order invalid.
