Dismissing the petition the Court held that; that in the notice for reassessment reference was made to the tax evasion report received from the Investigation unit of the Income-tax Department. Peculiar and specific details relating to transactions between the assessee and a third party were mentioned in it. The assessee as per tax evasion report had not been able to satisfactorily explain source of Rs. 35 crores. Hence there was evidence and material on record to justify issue of notice under section\u00a0147\u00a0\/\u00a0148\u00a0of the Act.However the notice was meant for the assessee and no one else. Legal error and mistake was made in addressing the notice. Noticeably, the appellant having received the notice, had filed without prejudice a letter dated April 11, 2017. It had objected to the notice being issued in the name of the company, which had ceased to exist. However, the letter indicated that it had understood and was aware that the notice was for it. It was replied to and dealt with. The fact that notice was addressed to SHPL, a company which had been dissolved, was an error and technical lapse on the part of the respondent. No prejudice was caused. Human errors and mistakes cannot and should not nullify proceedings which are otherwise valid and no prejudice had been caused. This is the effect and mandate of section\u00a0292B\u00a0of the Act.<\/i>The notice of reassessment was valid.<\/i>( AY.2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.147:Reassessment \u2014Subsequent receipt of tax evasion report from Investigation Wing of Income-Tax Department \u2014 Notice After Considering Report \u2014Notice is valid \u2013 Error in name of the assessee in notice \u2013 Reply by assessee- Human errors and mistakes cannot and should not nullify proceedings which are otherwise valid and no prejudice had been caused- No prejudice to the assessee \u2013 Notice cannot be invalidated [ S. 143(1), 148, 292B ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2974","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-LY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2974"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2974\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}