ITO, WARD 18(3) vs. M/S NORM CONSULTANTS PVT. LTD.

Parties Involved

Facts Summary

The assessee, M/S NORM CONSULTANTS PVT. LTD., filed its return of income on 31.10.2002 showing a loss of Rs. 47,640/-. The return was processed under section 143(1) of the Income Tax Act, 1961. The case was reopened and selected for scrutiny. The Assessing Officer completed the assessment under sections 147/144 of the Act, resulting in a total income of Rs. 3,99,52,360/- with an addition of Rs. 4,00,00,000/- under section 68 of the Act. The assessee appealed against the assessment order before the Commissioner of Income Tax (Appeals), who allowed the appeal, holding that the reasons for reopening the assessment were not furnished to the assessee and the notice under section 143(2) was not served upon the assessee. The revenue appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the Commissioner of Income Tax (Appeals) erred in allowing the appeal of the assessee by holding that the notice under section 143(2) was not served upon the assessee and, therefore, the reassessment order passed by the Assessing Officer was invalid and void ab initio.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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