Allowing the appeal of the assessee the Tribunal held that the notice u/s 148 was served on the assessee on 25th March, 2011, therefore, the time for completion of assessment proceeding in respect of asst. yrs. 2004-05 and 2005-06 is 31st Dec. 2011 i.e. nine months from the date of financial year in which notice under S..148 was served. The order of assessment has been passed beyond the aforesaid period i.e., on 28th March, 2013.  The proceeding for reassessment were completed beyond the period of limitation as prescribed under section 153(2) of the Act.  Admittedly, the first notice which was served on the business premises of the assessee was existing and was not withdrawn. Therefore, the same continued to subsist and the finding of the Tribunal that AO could issue two notices was held to be perverse.  Order of Tribunal was quashed.  (AY. 2004-05, 2005-06)