M/s Urban Nirmal LLP Vs. ITO, Ward 12(1)

Parties Involved

Facts Summary

The assessee, M/s Urban Nirmal LLP, filed the original return of income on 29.09.2013, declaring a total income of ₹20,56,820/-. The case was selected for scrutiny and an assessment was framed u/s 143(3) of the Act on 22.03.2016, assessing the total income at ₹95,95,420/-. The case was later reopened u/s 147 of the Act by issuing a notice u/s 148 of the Act on 31.03.2021. The assessee was required to file the return of income within 30 days from the date of the said notice but did not do so. Another notice u/s 142(1) of the Act was issued on 20.11.2021, but the assessee did not comply. Finally, an assessment order u/s 147 read with section 144/144B of the Act dated 31.03.2022, was framed by making an addition of ₹1,24,00,000/- by way of cash credit. The assessee contended that the assessment was invalid as the mandatory notice u/s 143(2) of the Act was not issued.…

Legal Issues

• 1. Whether the delay in filing the appeal is condoned.
• 2. Whether the assessment framed without issuing notice u/s 143(2) of the Act is valid.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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