TaxTMI 
TaxTMI 
2026 (4) TMI 478
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..... 2. Since the issues are common and the appeals are connected, hence the same are heard together and being disposed off by this common order, by dealing with the appeal No. 2765/Del/2025 (AY 2016-17), being lead case. 3. During the hearing, Ld. AR has filed an application for admission of following additional grounds and submitted that the said additional grounds goes to the root of the matter and have a bearing on the outcome of appeal and in view of the NTPC vs. CIT (1998) 97 Taxman 358 (SC), the same may be admitted. (i) Reassessment Proceedings Time Barred and void ab initio That the AO erred in law and on facts in reopening the assessment for AY 2016-17 u/s. 148/148A of the Income Tax Act, 1961, even though suc....
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.... 2015-16, all 148 notice which is on or after 1st April 2021 will have to be dropped as they will not fall for completion during the period prescribed under the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. He placed on record relevant decision of Hon'ble Supreme Court and he brought to our notice relevant findings of Hon'ble Supreme Court as under :- "(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 Amendment of Certain Provisions) Act, 2020. Section 3 of the Taxation and other Laws (Relaxation and Amendment of Cer....
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....on record. We observed 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, we are inclined to agree with the submissions of ld. AR of the assessee. 8. As regards other additional ground is concerned, ld. AR submitted that the notice under section 148 of the Income-tax Act, was issued to the assessee dated 29.07.2022 with the approval of ld. PCIT, Delhi and the same is placed at pages 13 & 14 of the paper book. Ld. AR submitted that the approval should have been obtained only from PCCIT as per the amended section 151 (ii) of the Act. Since the notice....
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....d and the same is reproduced below :- "5. In cases where reassessment is sought to be commenced after the lapse of three years from the end of the relevant A Y, undisputedly, it would be the Principal Chief Commissioner who would be liable to be recognised as being the competent authority. Viewed in that light, it is apparent that the reassessment action would not sustain. 6. Dealing with an identical question, we had in Abhinav Jindal HUF v. Commissioner of Income Tax and Ors reported in 2024 SCC OnLine Del 6585 Consequently, and for the aforesaid reasons, we find ourselves unable to sustain the reassessment action on this short score alone." 11. Similar view was taken by various coordinate Benches in this reg....
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....nt proceedings, including the assessment order dated 23.05.2023, cannot be sustained. Accordingly, the impugned order passed under section 148A(d) of the Act, the notice issued under section 13\48 of the Act as well as the assessment order dated 23.05.2023 and the demand raised pursuant thereto, are hereby set aside." 12. In view of the aforesaid discussions and respectfully following the aforesaid precedents, we hold that the impugned notice as well as proceedings initiated pursuant thereto are set aside and accordingly the reassessment is quashed and the ground raised in the appeal is allowed. Resultantly, the Assessee's appeal No. 2765/Del/2025 (AY 2016-17) filed by the assessee is allowed. 13. As regards appeal No. 2809/D....