Allowing the appeal of the assessee the Tribunal held that, notice was issued in the name of individual. Sanction was obtained in the name of firm. Reassessment is held to be bad in law. Provision of S.292BB cannot be invoked, defects is not curable defects. (AY.2004-05)
Kailash Sharma v. ITO (2017) 49 CCH 545 / (2018) 163 DTR 130/ 192 TTJ 488 (Asr.) (Trib.)
S. 147 : Reassessment-Notice issued in the name of individual- Sanction was obtained in the name of firm-Reassessment is held to be bad in law –Not curable defects. [S. 148, 292BB]