2025 (10) TMI 1392

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....imitation. The additional grounds are as under: - (i) "That the impugned reassessment order dated 22.05.2023 passed by the Respondent u/s 147 r.w.s. 144B of the Income Tax Act, 1961 is premised on the proceedings that were time barred and hence without jurisdiction and liable to be quashed. (ii) That the notice dated 26.07.2022 issued u/s 148 of the Act seeking reassessment for AY 2013-14 is barred by limitation as per 1st proviso to section 149 of the Act, as interpreted by the Hon'ble Supreme Court in Union of India vs. Ashish Agarwal 444 ITR 1 and Union of India vs. Rajeev Bansal 469 ITR 46. (iii) That the surviving period after considering all exclusions as per the ratio of decision in Rajeev Bansal (supra) an....

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..... On hearing both the sides the additional ground filed by the assessee is admitted since it is purely a legal ground going to the root of the very validity of the assessment framed u/s 143(3) r.w.s. 148 of the Act. 5. Coming to the additional grounds Counsel for the Assessee made submissions as under: - "MOST RESPECTFULLY SHOWETH: 1. That the present appeal was listed and heard before this Hon'ble Tribunal on 25.08.2025, while the orders reserved. 2. That while admitting the additional legal ground of the Appellant, this Hon'ble Tribunal was pleased to direct the Appellant to submit a date chart summarizing the sequence of events premised on the ratio of the Hon'ble Supreme Court in Union of India vs. Ashish A....

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....ms of the decisions in Ashish Agarwal and Rajeev Bansal (supra) the following position emerges in the context of the present case: (i) That the period for subject reassessment u/s 149 of the Act (under erstwhile law) is deemed to be extended till 30.06.2021 under TOLA. (ii) That the notice dated 30.06.2021 would be deemed to be notice u/s 148A(b) of the Act. (iii) That the surviving period for re-issuance of section 148 notice would be the remainder days of the TOLA extended period (viz., up till 30.06.2021), therefore 'none/nil' in the present case. (iv) That the following period stands excluded: - 01.04.2021 to 30.06.2021 : Provisions of Act read with TOLA extension - 01.07.2021 to 03.....