2026 (1) TMI 1548

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....der Section 148 of the Income Tax Act, 1961 ('the Act') and the consequential proceedings are illegal, bad in law, without jurisdiction and barred by time limitation. 2. That the Commissioner of Income Tax (Appeals) ['CIT(A)'] has erred in not quashing the reassessment proceedings, which are ex facie bad in law and in violation of the settled judicial pronouncements, and has further erred in upholding the additions/disallowances made by the Assessing Officer ('AO'). 3. That the assessment order passed under Section 147 r.w.s. 144 of the Act by the AO are illegal, bad in law, without jurisdiction, barred by time limitation, and not in accordance with the provisions of the Act. 4. That the reasonable opportunity of ....

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....At the time of hearing, ld. AR of the assessee submitted his submissions on the legal issue and submitted that this issue is squarely covered by various decisions of Hon'ble Courts and the coordinate Benches of the ITAT, especially relied on the decision of Hon'ble Apex Court in the case of UOI vs. Rajeev Bansal 2024 (10) TMI 264. Ld. AR further submitted the charts showing the key factor and computation of limitation as per decision of UOI vs. Rajeev Bansal (supra) as under :- A. KEY FACTS S. No. Particulars Date Relevant pgs. of paper books 1. Notice issued under section 148 (old regime) 30.06.2021 2 2. Letter/Notice communicating information pursuant to SC decision in Ashish Agarwal - reply to be fi....

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....ssee] 30.06.2021 to 30.05.2022/18.06.2022 Paras105-107 9. Last date for issuing notice u/s 148 [i.e., 30.05.2022+ 7 days] 25.06.2022 Para77 10. Actual date of issuance of notice u/s 148 18.07.2022   11. Notice u/s 148 issued under the new regime is within time period No, it is barred by time limitation Para77 5. In this regard, ld. AR of the assessee relied on various case laws and filed case law compilation. Accordingly, in view of his above submissions and relying on various case laws, he pleaded that the appeal of the assessee be allowed. 6. On the other hand, ld. DR of the Revenue objected to the submissions made by the ld. AR and heavily relied on the findings of the lower authoritie....

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....e. This time starts ticking for the assessing officer after receiving the response of the assessee. In this instance, if the assessee submits the response on 18 June 2022, the assessing officer will have sixty-one days from 18 June 2022 to issue a reassessment notice under section 148 of the new regime. Thus, in this illustration, the time limit for issuance of a notice under section 148 of the new regime will end on 18 August 2022." 8. Further we observe that Hon'ble Gujarat High Court (supra) in Southern Gujarat Chamber Trade and Industrial Development Centre vs ITO (Gujarat HC) has decided the same issue as under :- "Section 149, read with sections 148 and 148A, of the Income-tax Act, 1961 - Income escaping assessment - Time ....