2023 (10) TMI 197

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....t in the case of Brahm. Dutt (100 taxmann.com 324) without appreciating that the amendment to Sec 149(1) of the Income-tax Act, 1961 by Finance Act, 2021 was retrospective in nature in view of Explanation to Sec 149 as held by ITAT (D Bench Mumbai) in the case of Dilip J. Thakkar (135 taxmann.com 208) after considering the decision of Hon'ble Delhi High Court in Brahm Dutt (supra). 2. The Ld. CIT(A) has erred in holding that the assessee, being non-resident, is out of purview of the tax liability as the income was earned outside India without appreciating the fact that the assessee has failed to discharge its onus in establishing that the source of credit in the bank accounts of the is not from India. Ground no. 1 of Revenue....

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....of above submissions, first of all, we note that the Assessing Officer issued notice u/s. 148 of the Act on 20.03.2020 and in response to same the assessee filed letter dated 27.03.2021 along with copy of the return of income filed u/s. 139(1) of the Act for AY 2003-04. The assessee carried the matter before ld. CIT(A) on the strength of preposition rendered by Hon'ble jurisdictional High Court of Delhi in the case of Brahm Dutt vs. ACIT (supra). In the said judgment the Hon'ble Delhi High Court rendered preposition that amendment to section 149 by Finance Act 2012, which extended limitation for reopening assessment to sixteen years, cannot be restored to for reopening proceedings concluded before amendment became effective (on 01.07.2012).....