TaxTMI 
TaxTMI 
TaxTMI 
2025 (8) TMI 57
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.... 7148 of 2023, 7149 of 2023, 7154 of 2023, 7166 of 2023, 7238 of 2023, 8046 of 2023, 8374 of 2023, 8375 of 2023, 8728 of 2023, 9160 of 2023, 9545 of 2023, 10143 of 2023, 10852 of 2023, 10854 of 2023, 11845 of 2023, 11924 of 2023, 11979 of 2023, 12032 of 2023 And 14868 of 2023 Shree Naivedya Fincom Private Limited Versus Union Of India And Others Shree Ganpatlal Onkarlal Agrawal And Company Through Vikas Bansal Versus Union Of India Through Its Secretary Ministry Of Finance (Department Of Revenue) And Others Campus Poly Plast Pvt. Ltd. Versus Income Tax Officer 1(1) Indore And Others Ptc Police Welfare Society Through Authorised Signatory Ms. Sunita Rawat, Versus Assistant Commissioner Of Income Tax 4 (1) And Others M/S Gulshanrai Jain Ii Through Partner Shri Naveen Jain Versus Deputy Commissioner Of Income Tax 1 (1) And Others Tsd Reality Private Limited Through Director Shri Suresh Kumar Doshi Versus Income Tax Officer And Others Hon'ble Shri Justice Vivek Rusia And Hon'ble Shri Justice Binod Kumar Dwivedi For the Petitioners : Shri P.M. Choudhary assisted by Shri Anand Prabhawalkar, Shri Ashish Goyal, Shri Ibrahim Kannodwala, Shri Aditya Goyal, Shri Arun Dwivedi, Shri ....
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....s possession books of account or other documents or evidence related to any asset or expenditure or transaction or entries which show that the income chargeable to tax, which has escaped assessment, amounts to or is likely to amount to fifty lakh rupees or more. (2) No notice to show cause under section 148A shall be issued for the relevant assessment year,- (a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if three years, but not more than five years, have elapsed from the end of the relevant assessment year unless the income chargeable to tax which has escaped assessment, as per the information with the Assessing Officer, amounts to or is likely to amount to fifty lakh rupees or more.'' 05. The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) was enacted to extend limitation periods during the COVID-19 pandemic under the old law. It applied only to proceedings under the unamended Income Tax Act prior to 01.04.2021. 06. The Hon'ble Apex Court in Ashish Agrawal (supra) held the reassessment notices issued between 01.04.2021 and 30.06.2021 under the old re....
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....x Act read with Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 extended the time limit for issuing reassessment notices under section 148, which fell for completion from March 20, 2020 to March 31, 2021, till June 30, 2021. All the reassessment notices under challenge in the present appeals were issued from April 1, 2021 to June 30, 2021 under the old regime. Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.] deemed these reassessment notices under the old regime as show-cause notices under the new regime with effect from the date of issuance of the reassessment notices. The effect of creating the legal fiction is that this court has to imagine as real all the consequences and incidents that will inevitably flow from the fiction. (East End Dwellings Co. Ltd. v. Finsbury Borough Council [[1952] A.C. 109. (Lord Asquith, in his concurring opinion, observed: "If you are bidden to treat an imaginary state of affairs as real, you must surely, unless prohibited from doing so, also imagine as real the consequences and incidents which, if the putative state of affairs had in fact existed, must inevitably have flowed from or accomp....
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....ed by this court in Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.] has to be excluded from the computation of the period of limitation. Moreover, the period of two weeks granted to the assessee's to reply to the show-cause notices must also be excluded in terms of the third proviso to section 149. 111. The clock started ticking for the Revenue only after it received the response of the assessee's to the show-causes notices. After the receipt of the reply, the Assessing Officer had to perform the following responsibilities : (i) consider the reply of the assessee under section 149A(c); (ii) take a decision under section 149A(d) based on the available material and the reply of the assessee; and (iii) issue a notice under section 148 if it was a fit case for reassessment. Once the clock started ticking, the Assessing Officer was required to complete these procedures within the surviving time limit. The surviving time limit, as prescribed under the Income-tax Act read with Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, was available to the Assessing Officers to issue the reassessment notices under section 148 of the ne....
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....s from the end of an assessment year falls between March 20, 2020 and March 31, 2021, then the specified authority under section 151(i) has extended time till June 30, 2021 to grant approval; (e) In the case of section 151 of the old regime, the test is : if the time limit of four years from the end of an assessment year falls between March 20, 2020 and March 31, 2021, then the specified authority under section 151(2) has extended time till March 31, 2021 to grant approval; (f) The directions in Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.] will extend to all the ninety thousand reassessment notices issued under the old regime during the period April 1, 2021 and June 30, 2021; (g) The time during which the show-cause notices were deemed to be stayed is from the date of issuance of the deemed notice between April 1, 2021 and June 30, 2021 till the supply of relevant information and material by the Assessing Officers to the assessee's in terms of the directions issued by this court in Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.], and the period of two weeks allowed to the assessee's to respond to the show-cause notice....
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....ided in the light of this decision. 15. This Court gave time to the counsel of assessee's to file their calculation of limitation period in their individual cases and further gave time to the counsel of Income Tax department to check these applications and to sort out the cases in which the impugned notices are time barred according to the decision of Hon'ble Apex Court in Rajeev Bansal (supra). 16. Pursuant to this order applications including the calculations were filed by counsel of assessee's in their respective cases which were subsequently checked by the counsel of Income Tax department. After this exercise was conducted a total of 46 cases were found to be time barred wherein the notices are liable to be quashed as they were issued beyond prescribed time. 17. The List of cases which are time barred are as follows:- Time Barred - Notices issued beyond Limitation As per Para 112 of Rajeev Bansal (Supra) S. NO. ITE M NO. WRIT PETITION NO. PARTY NAME 1 17 19085/2022 Sandeep Singh Saluja Vs. Income Tax Department 2 17.3 19516/2022 M/S Space Enclave Private Limited Through Its Director Shri Rajeev Shrivastava Vs. Income Tax Department 3 1....
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....ntral Board Of Direct Taxes 26 17.50 6956/2023 Mohammad Yahya Rangoonwala Vs. Central Board Of Direct Taxes 27 17.53 7066/2023 M/S Krishidhan Seeds Private Limited Through Director Shri Sushil Karwa Vs. Assistant Commissioner Of Income Tax 1 (1) 28 17.54 7067/2023 Yash Goyal Vs. DCIT/ACIT4(1) 29 17.55 7069/2023 M/S Krishidhan Seeds Private Limited Through Director Shri Sushil Karwa Vs. Assistant Commissioner Of Income Tax 1 (1) 30 17.58 7143/2023 Yash Goyal Vs. DCIT / ACIT 4 (1) Indore 31 17.59 7148/2023 TSD Infrastate Private Limited Through Director Officer 5 (1) Indore 32 17.60 7149/2023 TSD Infrastate Private Limited Through Director Shri Suresh Kumar Doshi Vs. Income Tax Officer 5 (1) Indore 33 17.61 7154/2023 Seemandhar Devbuilding Private Limited Through Director Shri Suresh Kumar Doshi Vs. Income Tax Officer 5 (1) Indore 34 17.62 7166/2023 Seemadhar Devbuild Private Limited Through Director Shri Suresh Kumar Doshi Vs. Income Tax Officer 5 (1), Indore 35 17.65 7238/2023 Sunil Kumar Saboo Vs. DCIT/ ACIT 1(1) 36 17.67 8046/2023 M/S Ad Manum Financ....