- (1.) The present income tax appeal under Section 260 A of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') has been filed by the assessee against the order dated 2.3.2009 of the Income Tax Appellate Tribunal, Delhi Bench, New Delhi for the assessment year 1997-98.
(2.) The above appeal was admitted on the following questions of law:- (A) Whether on the facts and circumstances of the case, the ITAT was correct to hold that not mentioning of assessment year in the notice under section 148 dated 11.5.2000 would not make the reassessment proceedings illegal since the 142(1) notice dated 13.6.2000 mentioned the assessment year and the assessee was aware of the fact that the proceedings under section 148 has been initiated for A.Y. 1997-98? (B) Whether the ITAT has rightly ignored that service of the valid notice under section 148 is a condition precedent to assume jurisdiction of reassessment and mere knowledge or? (C) Whether non supply of the reasons along with the notice under section 148 of the Act can validate the reassessment proceedings. Mithlesh Kumar Tripathi v. CIT 2006 UPTC 155 ? (D) Whether the reassessment order passed under section 144/148 of the Act, was invalid and rightly affirmed by ITAT, when the notice under section 143(2) of Act was served on the appellant, as provided under Clause (b) of proviso to section 148(1) of Act, as inserted by Finance Act, 2006, effective from 01.10.1991? (E) Whether the ITAT rightly affirmed the invoking of section 69A of the Act holding that the appellant had a capital of Rs. 1,50,000/- to Rs. 1,75,000/- without bringing any material on record?
(3.) Briefly it has been contended by the assessee that a notice initiating re-assessment proceedings to the assessment year 1997-98 had been issued against him dated 11.5.2000 without any reference to a assessment year. Subsequently, on 13.6.2000 a notice under Section 142(1) of the Act was issued in respect of assessment proceedings for the assessment year 1997-98. Thereafter, on 4.7.2000 an ex parte assessment order was passed under Section 144/148 of the Act in the case of the assessee for the assessment year 1997-98.;