Commissioner Of Income Tax Central-I vs Chetan Gupta on 12 August, 2016
16. We have heard the rival submissions and perused the material
available on record. The preliminary issue raised by the assessee
company is non-service of notice u/s 148 of the Act. It is trite law
that service of notice u/s 148 is mandatory for valid assumption of
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I.T.A. No. 4651/Del/2018 & CO No.74/Del/2023
reassessment proceedings u/s 147 of the Act and failure to serve
notice before completion of the assessment renders the order
invalid. Reliance is placed on the decision of the Hon'ble
Jurisdictional High Court in the case of CIT Vs. Chetan Gupta
(supra), wherein the Hon'ble High Court held that reassessment
proceedings finalized by the Assessing Officer without affecting
proper service of notice on the assessee u/s 148 of the Act or invalid
and liable to be quashed.