- (1.) We have heard Shri Ashish Bansal, learned counsel for the appellant and Shri Shubham Agrawal, learned counsel for the Department. Several substantial questions of law have been prayed which according to the appellant arise for consideration but in our opinion it is sufficient to deal only with one such question of law, namely, "whether the AO was justified in making an assessment order without serving a notice under s. 143(2) of the IT Act within the stipulated period of 12 months from the end of the month when the returns were filed".
(2.) The present appeal relates to the asst. yr. 1997 -98. At that point of time, the law was that a notice under s. 143(2) of the Act was required to be issued within 12 months from the end of the month when the return was filed.
(3.) In the instant case, the assessee filed the return on 28th Nov., 1997 as is evident from the assessment order. Accordingly, the 12 months for issuance of a notice under s. 143(2) of the Act expired on 30th Nov., 1998. The assessment order indicates that a notice under s. 143(2) of the Act along with a questionnaire was issued on 21st June, 1999 i.e. almost after 7 months from the expiry of the period. Assessment order was thereafter made on 27th July, 2000.;