TaxTMI 
TaxTMI 
2026 (5) TMI 312
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....urisdiction to issue notices for assessment years 2014-15, as the time limit for issuance of notices for the said assessment years is barred in terms of sub sections (a) and (b), read with the first proviso to section 149. Later on, notice u/s 148(b) has been issued on dt. 19.05.2022 in consequence to Hounrable supreme court order dt. 04.05.2022. Assessee filed reply in response to said notice that that assessee has not received any accommodation entry from Pradeep Kumar Jindal during the AY 2013-14 nor received any loyalty bonus income from Kassa Finvest Pvt Ltd on the basis of which said notice u/s 148A(b) has been issued and prayed to drop the proceedings initiated u/s 148A(b) of the Act. Further, AO has not applied his mind before issuing notice u/s 148A(b). AO passed order u/s 148A(d) dt. 31.07.2022 overlooking the submission of the assessee. Thereafter, notice u/s 148 was issued dt. 31.07.2022 without DIN. Assessee filed return u/s 148 on dt. 20.01.2023 declaring an income of Rs. 11,37,620/-. Thereafter, AO issued various notices u/s 142(1) which have been duly replied. Assessment unit issued show cause notice dt. 13.02.2023 proposing variation that assessee has received acco....
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....and loyalty bonus of Rs. 11,46,679 as business receipts as per the section 28(iv) of the Act. On the aforesaid facts and circumstances of the case and the material on record the prayer is for adjudicating the controversy in pursuance to the grounds of appeal having been raised separately to the present appeal and detailed submission will be submitted at the time of hearing along with documents." 3. Aggrieved by the impugned assessment order, the assessee filed appeal before the Ld. CIT(A) who has dismissed the same and confirmed the addition made in the assessment order. 4. Aggrieved by the impugned order of the ld. CIT(A), the assessee is in appeal before the Tribunal and raising following grounds: "1. Because the action for initiation, continuation and conclusion of reassessment proceedings u/s 147 r.w.s 144B at an amount of Rs 3,51,34,299 is being challenged on facts and law. 2. Because the action for initiation, of reassessment proceedings u/s 148 is being challenged since as per the provisions of section 149, as amended by Finance Act, 2021, the Revenue will have no jurisdiction to issue notices for assessment years 2013-14, as the time limit for issuan....
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....al on record. Page no. 3 of the paper book containing the details in respect of notice dated 31.07.2022 u/s 148 of the Act being time barred is extracted as under: S. No. Documents 1 Assessment Year 2013-14 2 Period of limitation u/s 149 [3 years or 6 years] 6 years 3 Original period of limitation 31.03.2020 4 Extended period of limitation as per IT Act read with TOLA 30.06.2021 5 Sanction to be obtained u/s 151 till 30.06.2021 [within 6 years] PCIT 6 Date of original notice u/s 148 - deemed SCN u/s 148A(b) 22.06.2021 Original notice u/s 148 at Pg. 11 7 Time surviving from date of issuance of deemed SCN till expiry of period as extended by TOLA [from 22.06.2021 till 30.06.2021] 9 days 8 Period of deemed stay to be excluded as per 3rd proviso to section 149 [Date of Original 148 till date of filing of reply by assessee] 22.06.2021 to 13.06.2022 Reply at Pg. 12- 20 9 Last date for issuing notice u/s 148 [i.e„ 13.06.2022+9 days] 22.06.2022 10 Actual date of issuance of notice u/s 148 31.07.....
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....14 expired on 30.06.2021. The notice under section 148 having been issued on 31.07.2022, the same is clearly barred by limitation. 12. We also note that identical issues have been examined and decided by Co-ordinate Bench of the Delhi Tribunal in the case of Sh. Deepak Agarwal vs. DCIT order dated 23.07.2025 passed in ITA No. 2307/Del/2025 wherein notices issued on 31.07.2022 for A.Y. 2015-16 was quashed as time-barred, following Rajeev Bansal (supra). For ready reference, findings of the Co-ordinate Bench of the Tribunal is reproduced as under: "2. The Ld. Counsel for the assessee, at the outset, submits that in the case of the assessee a notice u/s 148 was issued on 30.07.2022 under new law which is barred by limitation since the provisions of taxation and other laws (relaxation and amendment of certain provisions) (TOLA) are not applicable for the AY 2015-16 as held by the Hon'ble Jurisdictional High Court in the case of Make My Trip (India) Pvt. Ltd. in WP(c) 2558/2023 dated 24.03.2025. 3. Ld. Counsel further submits that recently the Hon'ble Supreme Court in the cases of Deepak Steels & Power Ltd. Vs. CBDT and Others in Civil Appeal No.5177/2025 dated 02.0....
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....partment on behalf of Opposite Parties is taken on record. 2. In view of the order passed by this Court on 1st December, 2022 in a batch of writ petitions of which W.P. (C) Mo.9191 of 2022 (Kailash Kedia v. Income Tax Officer) was a lead matter and the subsequent order dated 10th January, 2023 passed in W.P.(C) Mo.36314 of 2022 (Shiv Mettalicks Pvt. Ltd., Rourkela v. Principal Commissioner of Income Tax, Sambalpur), the Court declines to entertain the present writ petition, but leaves it open to the Petitioner to raise all grounds available to the Petitioner in accordance with law including the grounds urged in the present petition at the appropriate stage as explained by the Court in those orders. 3. The writ petition is disposed of in the above terms." 3. We heard Mr. Saswat Kumar Acharya, the learned counsel appearing for the appellants (assessee) and Mr. Chandrashekhar, the learned counsel appearing for the revenue. 4. The learned counsel appearing for the revenue with his usual fairness invited the attention of this Court to a three judge bench decision of this Court in Union of India and Ors. v. Rajeev Bansal, reported in 2024 SCC OnLine SC....