2025 (11) TMI 1071

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....ssessee has also filed cross objections in the aforesaid assessment year. 2. Since the issues are common and the appeals and cross objections are connected, hence the same are heard together and being disposed off by this common order. 3. First we proceed to hear the cross objections raised by the assessee. CO No.120/Del/2025 (AY 2015-16) 4. The assessee has taken the following ground of appeal in the cross objections :- "That having regard to the facts and circumstances of the case, the impugned assessment order is liable to be quashed as the approval as mentioned in notice u/s 148 has been taken from Range 22, Delhi instead of correct authority under the applicable provisions of sec. 151(1) which is Pr. CIT, Delhi as ....

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....the end of assessment year (section 149(1)(b)). He further submitted that the provisions of the Act were envisaged under the section 3 of TOLA, which was only a relaxation provision dealing with the time limits of the various Acts which were getting time barred between 20.03.2020 to 31.03.2021. In the present case, he submitted that time limit to issue notice was getting barred on 31.03.2022, thus TOLA will not be applicable. Hence, he submitted that the approval granted by JCIT, Range - 22, New Delhi is not in consonance with the provisions of section 151 of the Act. Accordingly, he submitted that the notice issued by the AO u/ s 148 is liable to be quashed. 7. Further, ld. AR submitted that ld. CIT (A), vide Para No. 15 while passing t....

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....cord. We observe that before Hon'ble Supreme Court, Revenue had conceded that for AY 2015-16, all the appeals have to be dropped as they will not fall for completion during the period prescribed under TOLA, 2020. Based on the findings of Hon'ble Supreme Court in the case of Union of India and others vs. Rajiv Bansal (2024) SSC Online SC 2693, we are inclined to agree with the submissions of ld. AR of the assessee. For the sake of brevity, we are reproducing the relevant part of the aforesaid judgment :- "(e) The Finance Act, 2021 ((2021) 432 ITR (Stat) 52) substituted the old regime for reassessment with a new regime. The first proviso to section 149 does not expressly bar the application of Taxation and other Laws (Relaxation and ....