2023 (1) TMI 1406

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....w : "1. Whether on the facts and circumstances of the case, the Tribunal was right in holding that reassessment order is void ab initio on the ground that there were two parallel assessment proceedings pending when there was only one at the time of passing the reassessment order and was well in accordance with parameters of sections 148 and 149 of the Income-tax Act, 1961 ? 2. Whether on the facts and circumstances of the case, the Tribunal was correct in setting aside the reassessment order by ignoring the fact that the first reassessment proceedings initiated on April 18, 2013 was barred by limitation on December 31, 2014 and the said reassessment proceedings got initiated only on March 31, 2015 and hence, both are disti....

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.... assessment year and no parallel proceedings were neither pending nor initiated. Therefore, the impugned order is unsustainable and accordingly, prayed for allowing this appeal. 6. Shri Sudheendra adverting to section 153(2) of the Act, as it stood prior to amendment relevant for assessment year 2008-09, pointed out that the time limit expires on March 31, 2015. The Assessing Officer has neither withdrawn the first notice nor completed the proceedings before the expiry of time. Therefore, the second notice was unsustainable in law. 7. We have carefully considered the rival contentions and perused the records. 8. Sub-section (2) of section 153 of the Act as it stood prior to amendment, relevant to the assessment year 2008-09 reads a....