Case Law Details
Sri Pinnamaraju Venkatapathi Raju Visakhapatnam Vs JCIT (ITAT Visakhapatnam)
In the instant case, on verification of the assessment record, it is noticed that the A.O. typed the reasons but not signed the order sheet, thus there are no reasons recorded for reopening of assessment as required u/s 148 of the Act. The A.O. neither complied with the statutory requirement of recording the reasons for issue of notice nor complied with the law laid down by the Hon’ble Supreme Court in the case of reassessment proceedings. Therefore, the notice issued u/s 148 is bad in law accordingly same is quashed and the consequent assessment order made u/s 147 r.w.s. 143 (3) is annulled and the appeal of the assessee is allowed.
FULL TEXT OF THE ITAT JUDGMENT
This appeal filed by the assessee is directed against order of the Commissioner of Income-Tax (Appeals)-I {CIT(A)}, Visakhapatnam vide ITA No.265/2011-12/DC,C-3(1),Vsp/2015-16 dated 16.2.2016 for the assessment year 2007-08.
2. The assessee filed return of income in this case for the assessment year 2007-08 declaring total income of Rs. 31,66,816/- besides agricultural income of ` 1,75,000/- on 31.3.2008. The return was processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter called as ‘the Act’) and subsequently the assessment was reopened u/s 147 of the Act by issue of notice u/s 148 and completed the assessment u/s 143(3) r.w.s. 147 on total income of ` 47,55,478/- apart from the agricultural income of Rs.. 1,35,000/-. Aggrieved by the order of the A.O., the assessee went on appeal before the CIT(A) and agitated before the CIT(A) with regard to the issue of non supply of the reasons for reopening the assessment, apart from the technical ground of the validity of issue of notice u/s 148 of the Act, the assessee also challenged the order on merits . The Ld. CIT(A) upheld the validity of the reassessment made u/s 147 of the Act and allowed the appeal partly. Agitated by the order of the Ld. CIT(A), the assessee is in appeal before this Tribunal and the raised the following grounds of appeal:
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