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By 053,6? dated 26/2/200-/iii this appeal was admitted ts censides the aferernentiened. S{i1{}S§j,Ei?i7iifi§ snestiezis ei ism:

S 6* sf" ,9 6, We have heard the teamed counsel for the appellant and iearned counsel for the respondent wvretientie. 73 it is submitted on behalf of the the instant case, notice dated 14/ .i;'2;;'»1.E}92.'_"was' isstiefd» dander' ' Section 148 of the Act, which :vas:"'se1*e_ed'fV 24/12/1992 whereas, evenfpvrior tofthe receipt':.__o"i'the said'?

notice on 22/12/1992;, the ap;:f>eiiant.._Vhad.'fiied_hi.d return of income. Therefore, years from the end of the had to be con1p1eted'b§.5.:V in the instant case, the on 27 / 3/ 199'?' , which is welt -period and is therefore invalid. He has ,_aiso the second notice dated 24/' iii"/'_199éi i-sinvxalid in law as the said notice was issued dViir'it§\g;,-.fi;eVV"pf:.nd€ncgtfof the first notice; Also that the second notice in iaw in as much as; that the conditions ine-ntion~ed_vt:nder Section L48 are mandatory in nature with regard-ffio reopening of the assessment and when an ""x.AAasse:ssrnent order was not passed by 31/3/3995. the atssessrnent is deemed to have been eoneiuded. That the second notice Cannot extend the tirnitation period with regard to the oonchision of assessment proceedings and therefore? the orders st" ail three atit.horit:ies on this £4 '< 3/»;

24. In 247 of Income-Tax v. Rajendra ':.Court held that when a. notice is issued under assessee was assessed, aecofsdingiiri theessessment when the return was bad in law. Keeping in mind th§;.<gC'tS ofuthe present case, the aforesaid two decisions are V " not apjoiicebie.

Viziviease of A.S.S.P. And Co., v. Commissioner ofirgcéméfifirax, [1 72 ITR 2741, it has been heid that when a .. it .z'et._1n'n is fiied by the assessee in response to a notice under u':E'seetion 148 of the Act it is not open to the Incometax H Officer to ignore that return and issue a fresh notice under Sectien 148. After the reassessment order is made in pursuance of the first notice is issued under Section 148, if zi /it/* not a Condition precedent to eenferrnent sf _ the ineorne--tax Officer; it is a Condition precede-nt~,en*i;§§ to the -« .. making of the Order of assessrnent;

assesseeVVfi1eti.VRetut*1:_Of:1'11come on 22.12.1992 declaring a totatei. tncnme V'e"1'"wRe_._;3,O0 lakh Without the profit and loss .ae.e_0uhtV..artd.V balance sheet. The same was filed on .€3S.1;iII1Et'ii.:C}T1v1}Te3:Si.i§. The assessee requested to treat the said return _e§'tespense to the netiee dated 14.12.1992 which was iestted on aeeeunt of the fact that there was no return ftiieldfi til} then. Subsequent to issuance of netiee under Section 148 dated 24.11.1994, the assesses: fiied revised 9 hvttfetum on 20.19.1995 declaring income of Rs.4,57',934/~ erteleeing prefit and Ieee account and balance sheet. Prior te ,.«»'fl~ the issuance of notice dated 24.11.1994; the Assessing Officer has recorded reasons as follows: