Reassessment notices and limitation: High Courts must first ermine the applicable assessment year before deciding time-bar under prior ruling.

Reassessment notices concerning Assessment Year 2015-16 are stated to be barred by limitation, as the Revenue conceded that such notices would be time-barred in light of the earlier view of the Court. The Supreme Court directed the jurisdictional High Courts to first determine the applicable assessment year on remand. If the cases are found to relate to Assessment Year 2015-16, the notices must be treated as time-barred; if not, the assessees may raise all available contentions in accordance with the earlier order governing the connected batch. The impugned judgments were set aside and the matters remitted for fresh determination.

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Issues: (i) Whether the reassessment notices would be liable to be quashed if the matters pertained to Assessment Year 2015-16. (ii) Whether the impugned judgments should be set aside and the matters remitted to the jurisdictional High Courts for redetermination, with the High Courts first deciding the applicable assessment year.

Issue (i): Whether the reassessment notices would be liable to be quashed if the matters pertained to Assessment Year 2015-16.

Analysis: The Revenue fairly conceded that, in cases pertaining to Assessment Year 2015-16, the notices issued or proposed to be issued for reassessment would be barred by time in view of the earlier view already taken by the Court. The concession recorded in the earlier order was reiterated, and it was accepted that if the cases were found to relate to that assessment year, no further adjudicatory exercise would be required on the merits of the notices.

Conclusion: If the matters pertain to Assessment Year 2015-16, the reassessment notices are liable to be treated as time-barred.

Issue (ii): Whether the impugned judgments should be set aside and the matters remitted to the jurisdictional High Courts for redetermination, with the High Courts first deciding the applicable assessment year.

Analysis: The appeals were segregated from an earlier batch on the premise that they may pertain to Assessment Year 2015-16. The Court directed that the jurisdictional High Courts must first determine the applicable assessment year. If it is found to be 2015-16, the notices are to be declared time-barred. If not, all contentions available to the assessees shall be considered in terms of the earlier order governing the connected batch.

Conclusion: The impugned judgments were set aside and the matters were remitted to the jurisdictional High Courts for fresh determination in accordance with the stated directions.

Final Conclusion: The appeals were disposed of by reopening the matter before the High Courts, with the threshold question of the relevant assessment year to be decided first and the consequence of limitation to follow if Assessment Year 2015-16 is found applicable.

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