TaxTMI 
TaxTMI 
TaxTMI 
2025 (9) TMI 88
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....appeal No.8, which is a legal ground is adjudicated the rest of the grounds would be academic and may not require specific adjudication. Accordingly, we will consider ground of appeal no.8 first. At the outset, it is imperative to briefly recapitulate the facts of the present case. The present appeal is the Second Round before this Hon'ble Tribunal. It has been submitted that in the first round before this Hon'ble Tribunal in ITA No.2840 of 2018, vide order dated 17.05.2019, the assessment order dated 27.12.2016 passed under section 143(3) of the Act for the AY 2014-15 was set-aside and entire issue was remitted back to the file of the assessing officer with the following observation:- "....On the strength of the power of attorney executed by the assessee in favour of Shri V.R. Anbuvelrajan and Shri S. Balamurugan, they sold the property for higher consideration. Therefore, it is obvious that as claimed by the assessee, there are two different transactions. One transaction is between the assessee and Shri V.R. Anbuvelrajan & Shri S. Balamurugan. The other transaction is between Shri V.R. Anbuvelrajan & Shri S. Balamurugan with M/s Jacaranda Properties Pvt. Ltd. These t....
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....sment order dated 27.12.2016 and the entire issue was remitted back to the file of assessing officer for re-examination, the implication of section 153(3) of the Act would apply to the facts of present case. We have noted that in the present case, this Tribunal had vide its order in ITA No.2840 of 2018 had set-aside the order of the assessing officer and remitted back the entire issue for re-examination in light of materials that the appellant assessee would furnish and decide the issue afresh in accordance with law after giving opportunity of being heard. Our attention has been drawn to the decision of Hon'ble Karnataka High Court in the case of Wipro Limited vs JCIT in 438 ITR 581 on the issue of interpretation of the phrase "fresh assessment" as contemplated in section 153(3) of the Act. It was held that ... "........8(b). Section 153(3), when it uses the term 'fresh assessment', would mean that the entire exercise of assessment is to be done afresh as it is used along with the terminology "setting aside or cancelling" which would mean the whole order of assessment being set at naught and not some issues comprised in the assessment order. When the assessment ord....
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....on issued under the said Act is that the due date for completion of the assessment should fall between 20.03.2020 and 30.03.2021. It was argued that, in the present case, the due date itself was only 31.03.2021 and accordingly the TOLA and its notifications do not apply to the case of the appellant and consequently would not come to rescue of Revenue. The appellant has also contended that the issue of suo moto extension by Hon' ble Supreme Court vide its order dated 10.01.2022, raised by the Revenue would not apply in its case. The appellant has invited attention to the decision of Hon'ble Apex Court in the case of S.Kasi Vs State in (2021) 12 SCC1 holding as under: "....19. The limitation for filing petitions/ applications/ suits/ appeals/all other proceedings was extended to obviate lawyers/litigants to come physically to file such proceedings in respective Courts/Tribunals. The order was passed to protect the litigants/lawyers whose petitions/ applications/ suits/ appeals/all other proceedings would become time barred they being not able to physically come to file such proceedings. The order was for the benefit of the litigants who have to take remedy in law as per the ....
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....erial available on records. Before proceeding further we would like to briefly recapitulate the statutory provisions of section 153 of the Act covering the matter, which is reproduced hereunder:- Section - 153, Income-tax Act, 1961 - FA, 2025 ^2[Time limit for completion of assessment, reassessment and recomputation. ^3153. (1) No order of assessment 4 shall be made under section 143 or section 144 at any time after the expiry of twenty-one months from the end of the assessment year in which the income was first assessable: ^5[Provided that in respect of an order of assessment relating to the assessment year commencing on the 1st day of April, 2018, the provisions of this sub-section shall have effect, as if for the words "twenty-one months", the words "eighteen months" had been substituted: ^6[Provided further that in respect of an order of assessment relating to the assessment year commencing on- (i) the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "twenty-one months", the words "twelve months" had been substituted; (ii) the 1st day of April, 2020, the provisions of....
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....received ^18 by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the ^19[Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, as the case may be] : ^13[Provided that where the order under 17[section 250 or] section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the 19[Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, as the case may be,] on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "nine months", the words "twelve months" had been substituted.] ^20[(3A) Notwithstanding anything contained in sub-sections (1), (1A), (2) and (3), where an assessment or reassessment is pending on the date of initiation of search under section 132 or making of requisition under section 132A, the period available for completion of assessment or reassessment, as th....
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....ection 263 or section 264 requires verification of any issue by way of submission of any document by the assessee or any other person or where an opportunity of being heard is to be provided to the assessee, the order giving effect to the said order under section 250 or section 254 or section 260 or section 262 or section 263 or section 264 shall be made within the time specified in sub-section (3).] ^26[(5A) Where the Transfer Pricing Officer gives effect to an order or direction under section 263 by an order under section 92CA and forwards such order to the Assessing Officer, the Assessing Officer shall proceed to modify the order of assessment or reassessment or recomputation, in conformity with such order of the Transfer Pricing Officer, within two months from the end of the month in which such order of the Transfer Pricing Officer is received by him.] (6) Nothing contained in sub-sections (1) 27[, (1A)] and (2) shall apply to the following classes of assessments, reassessments and recomputation which may, subject to the provisions of 28[sub-sections (3), (5) and (5A)], be completed- (i) where the assessment, reassessment or recomputation is made on t....
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....n completed by such date due to exclusion of time referred to in Explanation 1, such assessment or reassessment shall be completed in accordance with the provisions of this section as it stood immediately before its substitution by the Finance Act, 2016 (28 of 2016).] Explanation 1.-For the purposes of this section, in computing the period of limitation- (i) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity to the assessee to be re-heard under the proviso to section 129; or ^32a [ (ii) the period commencing on the date on which stay on the assessment proceeding 33was granted by an order or injunction of any court and ending on the date on which certified copy of the order vacating the stay was received by the jurisdictional Principal Commissioner or Commissioner; or] (iii) the period commencing from the date on which the Assessing Officer intimates the Central Government or the prescribed authority, the contravention of the provisions of clause (21) or clause (22B) or clause (23A) or clause (23B) ^34[, under clause (i) of the first proviso]to sub-section (3) of section 143 and ending with the date on which the....
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....ommissioner or Commissioner under sub-section (7) of section 245R; or (x) the period commencing from the date on which a reference or first of the references for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information requested is last received by the Principal Commissioner or Commissioner or a period of one year, whichever is less; or (xi) the period commencing from the date on which a reference for declaration of an arrangement to be an impermissible avoidance arrangement is received by the Principal Commissioner or Commissioner under sub-section (1) of section 144BA and ending on the date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is received by the ^37[Assessing Officer; or (xii) the period (not exceeding one hundred and eighty days) commencing from the date on which a search is initiated under section 132 or a requisition is made under section 132A and ending on the date on which the books of account or other documents, or any money, bullion, jewellery or other valuabl....
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....n 245HA, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to have been extended to one year; and for the purposes of determining the period of limitation under sections 149, ^40[***] 154, 155 and 158BE and for the purposes of payment of interest under section 244A, this proviso shall also apply accordingly: ^41[Provided also that where the assessee exercises the option to withdraw the application under sub-section (1) of section 245M, the period of limitation available under this section to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, shall, after the exclusion of the period under sub-section (5) of the said section, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to have been extended to one year: Provided also that for the purposes of determining the period of limitation under sections 149, 154 and 155, and for the purposes of payment of interest under section 244A, the provisions of the fourth proviso shall apply accordingly:] ^42[Provided also that where after exclusion of the p....