Case Law Details
PCIT Vs Grand Express Developers Pvt. Ltd. (Delhi High Court)
Introduction: The Delhi High Court recently addressed a crucial matter in the case of PCIT vs. Grand Express Developers Pvt. Ltd. The appellant, seeking condonation for a substantial delay in re-filing the appeal, argued against the order passed by the Income Tax Appellate Tribunal. The primary contention revolved around the absence of a notice under Section 143(2) of the Income Tax Act.
Detailed Analysis:
The appeal, pertaining to the Assessment Year 2013-14, stemmed from the Commissioner of Income Tax (Appeals) quashing the assessment order of 30.03.2015. The central point of contention was the absence of a Section 143(2) notice before framing the said order. The respondent, Grand Express Developers Pvt. Ltd., contended that the notice was never issued, challenging the validity of the entire proceedings.
The court examined the timeline of events, including a search and seizure operation related to a sister concern, Bhasin Infotech & Infrastructure Private Limited. The assessment order was based on unsecured loans received by the respondent. While notices were issued, the absence of a specific notice under Section 143(2) became a pivotal argument during the appeal.
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