Case Law Details
M/s. Supersonic Technologies Pvt. Ltd. Vs PCIT (ITAT Delhi)
Conclusion: Since no notice under section 143(2) had been issued for completion of the re-assessment proceedings, therefore, the re-assessment order itself was bad in law and the same could not be revised under section 263.
Held:
A.O reopened assessment but did not mention if he had issued any notice under section 143(2) upon assessee before completion of assessment. This issue was raised before CIT in the proceedings under section 263. CIT mentioned in the impugned order that assessee was intimated by notices dated 11.06.2014 and 19.06.2014 that in the absence of requisite details assessment would be completed under section 144. CIT treated the same notices as notice issued under section 143(2). In the present case, no notice under section 143(2) had been issued for completion of the re-assessment proceedings and that incorrect facts had been recorded in the reasons for reopening of the assessment. Since the re-assessment order itself was bad in law, therefore, the same could not be revised under section 263. Only valid re-assessment order could be revised under section 263, thus, proceedings under section 263 were bad in law and liable to be quashed.
FULL TEXT OF THE ITAT JUDGEMENT
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