2025 (6) TMI 220

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....nel-2, Mumbai, ["learned DRP"] under section 144C(5) of the Act, for the assessment year 2015-16. 2. In its appeal, the assessee has raised the ground, inter alia, challenging the initiation of re-assessment proceedings under section 147 of the Act. Since this is a jurisdictional issue, which goes to the root of the matter, we are considering the same at the outset. During the hearing, the learned Authorized Representative ("learned AR") submitted that the notice issued under section 148 of the Act in the present case is beyond the limitation period specified under section 149(1) of the Act, and thus, the re-assessment order passed under section 147 read with section 144C(13) read with section 144B of the Act is void ab initio. 3. The....

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....se for the issuance of a notice under section 148 of the Act. On the very same date, i.e. on 29/07/2022, a notice under section 148 of the Act was issued by the Jurisdictional Assessing Officer. The draft assessment order was passed under section 144C(1) of the Act, assessing the total income of the assessee at Rs. 342,36,42,560. In compliance with the directions issued by the learned DRP under section 144C(5) of the Act, the final assessment order, under section 147 read with section 144C(13) read with section 144B of the Act, was passed on 26/03/2024. Being aggrieved, the assessee is in appeal before us. 6. During the hearing, the learned AR submitted that the year under consideration is assessment year 2015-16, and therefore, the limi....

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....ore the Hon'ble Supreme Court in Rajeev Bansal (supra), wherein it was conceded by the Revenue that for the assessment year 2015-16, all notices issued on or after 1st April, 2021 will have to be dropped as they will not fall for completion during the period prescribed under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 ("the TOLA"). We find that the Hon'ble Delhi High Court in Pratishtha Garg vs. ACIT, reported in (2015) 171 taxmann.com 264 (Delhi), allowed the writ petition filed by the taxpayer and set aside the notice issued under section 148 of the Act for the assessment year 2015-16, by observing as follows: - "2. Learned counsel for the Revenue fairly states that the prayers made by t....

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....7-2018 will be within the period of limitation as explained in the tabulation below: Assessment Year Within Years Expiry of Limitation read with TOLA for (2) (3) Within Six Years (4) Expiry of Limitation read with TOLA for (4) (5) 2013-2014 31.03.2017 TOLA not applicable. 31.03.2020 30.06.2021 2014-2015 31.03.2018 TOLA not applicable. 31.03.2021 30.06.2021 2015-2016 31.03.2019 TOLA not applicable. 31.03.2022 TOLA not applicable. 2016-2017 31.03.2020 TOLA not applicable. 31.03.2023 TOLA not applicable. 2017-2018 31.03.2021 TOLA not applicable. 31.03.2024 TOLA not applicable. (f) The Revenue concedes that for the assessment year 20152016, all no....