COMMISSIONER OF INCOME TAX Vs. MADHWAN BASHYAM

JUDGEMENT

(1.) THE Revenue is aggrieved by an order dt. 22nd Sept., 2006 passed by the Tribunal, Delhi Bench 'E' in ITA No. 4618/Del/2003 relevant for the asst. yr. 1996 -97.

(2.) M /s Marubeni Corporation had filed a return purportedly as the agent of the assessed. The return was filed on 24th June, 1996. A notice was issued to the assessed under Section 148 of the IT Act, 1961 (for short the Act) on 14th Jan., 2000 and it was served on the assessed on 31st Jan., 2000. According to the assessed, the notice was time -barred in view of the provisions of Section 149(3) of the Act and the notice should have been served upon the assessed on or before 31st March, 1999.

(3.) THE Tribunal, by the order under challenge, accepted the additional ground raised by the assessed and came to the conclusion that the notice issued to the assessed under Section 148 of the Act was barred by time. Learned Counsel for the Revenue has drawn our attention to Section 163 of the Act to contend that no order was passed to the effect that M/s Marubeni Corporation was the agent of the assessed. In particular, she has referred to Section 163(2) of the Act and that reads as follows: