Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
ITAT set aside reassessment notice u/s 148 dated 28/07/2022 as time-barred. Applying the SC jurisprudence on interplay between pre- and post-TOLA regimes, the Tribunal held that only the balance or "surviving" period available under the Income-tax Act read with TOLA may be used to complete post-deemed-notice steps, including issuance of a fresh s.148 notice. The original notice dated 30/06/2021 operated as a deemed notice; the surviving window ran only from 28/06/2021 to 30/06/2021 (two days). The AO failed to complete s.148A(c)/(d) and issue s.148 within that surviving period after expiry of the assessee's reply deadline, rendering the impugned notice barred by limitation and quashed.
ITAT set aside reassessment notice u/s 148 dated 28/07/2022 as time-barred. Applying the SC jurisprudence on interplay between pre- and post-TOLA regimes, the Tribunal held that only the balance or "surviving" period available under the Income-tax Act read with TOLA may be used to complete post-deemed-notice steps, including issuance of a fresh s.148 notice. The original notice dated 30/06/2021 operated as a deemed notice; the surviving window ran only from 28/06/2021 to 30/06/2021 (two days). The AO failed to complete s.148A(c)/(d) and issue s.148 within that surviving period after expiry of the assessee's reply deadline, rendering the impugned notice barred by limitation and quashed.
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