Vertex Buildwell Private ... vs Income Tax Officer, Ward - 26(2), C R ... on 30 October, 2025
In such factual matrix, it was mandatorily required
of the AO to record under proviso to section 147 of the Act that the
Page 7 of 9
ITA No. 2064/DEL/2025 [A.Y 2012-13]
Vertex Buildwell Vs ITO
income has escaped assessment for the reason of the failure on the part
of the assessee to disclose fully and truly all material facts necessary for
his assessment for that assessment year. In absence of fulfillment of the
condition prescribed in proviso to section 147 of the Act, the assumption
of jurisdiction cannot be held as valid and the notice u/s 148 is liable to
be quashed. We order accordingly. The ground 2 is allowed.