TaxTMI 
TaxTMI 
2026 (2) TMI 1358
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....7.5.2023. 2. The Revenue has raised the following grounds:- 1. Whether on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in dismissing the appeal on the ground of validity of notice u/s. 148 without considering the facts of the case that notice u/s. 148 has been issued as per the direction of the Hon'ble Supreme Court in the judgement of Ashish Aggarwal and Others and as per CBDT Instruction No. 1 / 2022 dated 11.5.2022. 2. Whether on the facts and in the circumstances of the case, the ld. CIT(A) has erred in quashing the assessment proceedings getting time barred in violation of provision of clause (b) of sub section (1) to section 149 of the Act. 3. Brief facts of the case are that the ass....
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....70,500/-) and completed the assessment u/s. 147 r.w.s. 144B of the Act. Against the AO's action, assessee appeal before the Ld. CIT(A), who vide his impugned order dated has partly allowed the appeal of the assessee. Aggrieved, Revenue is in appeal before the Tribunal. 4. At time of hearing, ld. CIT(DR) submitted that Ld. CIT(A) has erred in dismissing the appeal on the ground of validity of notice u/s. 148 without considering the facts of the case that notice u/s. 148 has been issued as per the direction of the Hon'ble Supreme Court in the judgement of Ashish Aggarwal and others and as per the CBDT Instruction No. 01/2022 dated 11.5.2022. It was also stated that the Ld. CIT(A) erred in quashing the assessment proceedings getting time ba....
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....notice dated 27.05.2022, the assessee duly submitted reply and detailed submission on 25.06.2022. He further submitted that without considering the submission of the assessee, AO passed the order u/s 148A(d) of the Act dated 19.07.2022 and initiated re-assessment proceedings (copy placed at Page No. 24-31 of PB). The notice u/s 148 of the Act was issued on 19.07.2022, copy thereof placed at page no. 32-33 of PB. He drew our attention towards the judicial decision delivered by the Apex Court in case of Union of India versus Rajeev Bansal - Civil Appeal No. 8629/2023 dated 03.10.2024 which is squarely covered with the case of the Assessee wherein the Hon'ble Apex Court held that the third proviso to Section 149 of the new regime provides ....
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.... (supra) is that the time surviving under the Income Tax Act read with TOLA will be available to the Revenue to complete the remaining proceedings in furtherance of the deemed notices, including issuance of reassessment notices under Section 148 of the new regime. The surviving or balance time limit can be calculated by computing the number of days between the date of issuance of the deemed notice and 30 June 2021. He submitted that the Hon'ble Apex Court concluded that the clock started ticking for the Revenue only after it received the response of the assesses 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 ....
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....urther submitted that the Apex court allowed all the assessee to avail all the defenses, including the defense of expiry of the time limit specified under section 149(1) and held that a reassessment notice issued beyond the surviving time limit will be time barred. 6. After hearing the rival contentions and perusing the records, we find that in the present case of the assessee, the date of original notice issued u/s 148 of the Act (under old regime) is 17.06.2021 and of submission of reply in response to information provided by the AO after in judgment of Ashish Agarwal (supra) is 26.06.2022. However, as per Hon'ble Apex Court judgment of Union of India Vs. Rajeev Bansal (supra) surviving time available to the AO to issue notice u/s ....