Dismissing the appeal of the revenue the Court held notice under section 148 was not issued at correct address because address given in notice was not last known address of assessee. Tribunal further held that mere fact that assessee had participated in reassessment proceedings despite not having been issued or served with notice under section 148 in accordance with law would not constitute a waiver of said jurisdictional requirement. Order of Tribuanl is affirmed. Relied on CIT v. Chetan Gupta (2016 0 382 ITR 613 (SC) R.K. Upadhyaya v. Shanabhai P. Patel (1987) 166 ITR 163 (SC). (AY. 2001-02)
PCIT v. Atlanta Capital (P.) Ltd. (2020) 119 taxmann.com 292 (Delhi)(HC) Editorial : SLP of revenue is dismissed as withdrawn due to low tax effect. PCIT v. Atlanta Capital (P.) Ltd. (2020) 274 Taxman 224 (SC)
S. 148 : Reassessment-Notice-Notice was not issued at last known address of assessee-Participated in reassessment proceedings despite not having been issued or served with notice under section 148 in accordance with law would not constitute a waiver of said jurisdictional requirement-Reassessment is bad in law. [S. 147, 292BB]