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In the instant case, assessee has raised the following grounds of appeal—

Case proceedings sought to be initiated u/s 148 of the IT Act 1961 are void ab initio’ and deserve to be quashed.

The alleged assessment made u/s 143(1) of the Income Tax Act are wrong and illegal and consequently assessment made u/s 148 is illegal and the ld CIT(A) erred in confirming the same.

That two parallel proceedings conducted u/s 154 & 148 of the IT Act 1961 are not warranted by law and are wrong and illegal.

That the appellant a cooperative society is liable to exemptions u/s 80P(2) VI of the Income Tax Act, 1961 to invoke for mutual interest of employment.”

Held that—In the similar case, Calcutta High court held that In the absence of any new and/or fresh materials and in the absence of any reason for formation of belief that even otherwise, income had escaped assessment even though there was no apparent mistake or error, the Assessing Officer lacked jurisdiction to issue the impugned notice.” Respectfully following the decision of the honourable Calcutta High Court we crash the reassessment made by the assessing officer under section 148 of the income tax act. Accordingly, on ground number 1 of the appeal, the appeal of the assessee is allowed. In view of our decision in ground number 1 of the appeal the other grounds of appeal are not required to be adjudicated.

Shanti Prime Publication Pvt. Ltd.

Section 80P, 154, 147, 148 of Income Tax Act, 1961—In the instant case, assessee has raised the following grounds of appeal—

Case proceedings sought to be initiated u/s 148 of the IT Act 1961 are void ab initio’ and deserve to be quashed.
The alleged assessment made u/s 143(1) of the Income Tax Act are wrong and illegal and consequently assessment made u/s 148 is illegal and the ld CIT(A) erred in confirming the same.
That two parallel proceedings conducted u/s 154 & 148 of the IT Act 1961 are not warranted by law and are wrong and illegal.
That the appellant a cooperative society is liable to exemptions u/s 80P(2) VI of the Income Tax Act, 1961 to invoke for mutual interest of employment.”

Held that—In the similar case, Calcutta High court held that In the absence of any new and/or fresh materials and in the absence of any reason for formation of belief that even otherwise, income had escaped assessment even though there was no apparent mistake or error, the Assessing Officer lacked jurisdiction to issue the impugned notice.”

Respectfully following the decision of the honourable Calcutta High Court we crash the reassessment made by the assessing officer under section 148 of the income tax act. Accordingly, on ground number 1 of the appeal, the appeal of the assessee is allowed. In view of our decision in ground number 1 of the appeal the other grounds of appeal are not required to be adjudicated.[THE KADIYAN COOP L AND C SOCIETY LTD. VERSUS ACIT, CIRCLE PANIPAT] [2018] [7] [ITCD Online] [35] [ITAT DELHI]

In the instant case, assessee has raised the following grounds of appeal—

Case proceedings sought to be initiated u/s 148 of the IT Act 1961 are void ab initio’ and deserve to be quashed.

The alleged assessment made u/s 143(1) of the Income Tax Act are wrong and illegal and consequently assessment made u/s 148 is illegal and the ld CIT(A) erred in confirming the same.

That two parallel proceedings conducted u/s 154 & 148 of the IT Act 1961 are not warranted by law and are wrong and illegal.

That the appellant a cooperative society is liable to exemptions u/s 80P(2) VI of the Income Tax Act, 1961 to invoke for mutual interest of employment.”

Held that—In the similar case, Calcutta High court held that In the absence of any new and/or fresh materials and in the absence of any reason for formation of belief that even otherwise, income had escaped assessment even though there was no apparent mistake or error, the Assessing Officer lacked jurisdiction to issue the impugned notice.” Respectfully following the decision of the honourable Calcutta High Court we crash the reassessment made by the assessing officer under section 148 of the income tax act. Accordingly, on ground number 1 of the appeal, the appeal of the assessee is allowed. In view of our decision in ground number 1 of the appeal the other grounds of appeal are not required to be adjudicated.

Shanti Prime Publication Pvt. Ltd.

Section 80P, 154, 147, 148 of Income Tax Act, 1961—In the instant case, assessee has raised the following grounds of appeal—

Case proceedings sought to be initiated u/s 148 of the IT Act 1961 are void ab initio’ and deserve to be quashed.
The alleged assessment made u/s 143(1) of the Income Tax Act are wrong and illegal and consequently assessment made u/s 148 is illegal and the ld CIT(A) erred in confirming the same.
That two parallel proceedings conducted u/s 154 & 148 of the IT Act 1961 are not warranted by law and are wrong and illegal.
That the appellant a cooperative society is liable to exemptions u/s 80P(2) VI of the Income Tax Act, 1961 to invoke for mutual interest of employment.”