COMMISSIONER OF INCOME TAX Vs. MAYA RANI DEY

JUDGEMENT

(1.) IN challenge is the judgment and order dated 11.09.2009, passed by the learned Income Tax Appellate Tribunal, Guwahati Bench, Guwahati (for short hereafter referred to as the Tribunal) in ITA No. 75 (Gau)/2007, allowing the same and annulling the order dated 31.12.2003 of the Assessing Officer under section 158BD/143(3)/158BG of the Income Tax Act, 1961 (for short hereafter referred to as the Act) vis- a-vis the respondent herein.

(2.) WE have heard Mr. S Sarma, learned Counsel for the Revenue and Mr. GN Sahewalla, Senior Advocate assisted by Mr. P Deka, Advocate for the respondent.

(3.) WHILE the matter proceeded thus, the Assistant Commissioner of Income Tax, Investigation Circle, Silchar, by order dated 19.12.2001 taking note of the panchanama i.e. 08.12.1999, issued in the name of Partha Sarathi Dey, who was dead on the date of search & seizure, dropped the proceedings and initiated a fresh proceedings under section 158 BD. Thereby, a notice was ordered to be issued to the respondent, as the legal representative of Lt. Partha Sarathi Dey. According to the revenue, this notice was received by the respondent-Assessee on 24.12.2001, whereupon, the assessment was validly made on 31.12.2003.