TaxTMI 
TaxTMI 
2026 (7) TMI 1797
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....dings and Analysis : 2. We have heard both the parties and perused the records. Ld.AR has filed paper book 2.1 In this case the Notice u/s 148 for AY 2015-16 was dated 12/04/2022 and the Order u/s. 148A(d) was dated 12/04/2022 for AY 2015-16. 2.2 Ld.AR submitted that the Notice u/s 148 is time barred. Ld.AR relied on the case laws filed in the paper book. Ld.DR has accepted that Notice u/s 148 was issued on 12/04/2022. 3. The Hon'ble Supreme Court in the case of Deepak Steel & Power Ltd. Vs. CBDT [2025] 476 ITR 369 (SC)[02-04-2025] held as under : Quote, " 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....
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....urt held as under : Quote, "15. Considering the facts of the case, it is not in dispute that the respondentAssessing Officer has issued thenotice under section 148A(b) of the Act after the period of six years were over on 31.03.2022. As observed bythe Hon'ble Apex Court in case of Deepak Steel and Power Ltd (supra) and in view of the concession madeby the Revenue before the Apex Court for the Assessment Year 201516, all the notices issued on or after01.04.2021 will have to be dropped as they would not fall for completion during the period prescribed underthe Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and therefore,nothing further is required to be adjudicated in the matters as the notice ....
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....2025, we are of theview that re-assessment proceedings initiated for the A.Y. 2015-16 in the instant case are without jurisdiction and hence assessment completed u/s. 147 of the Act consequent to the notice issued u/s. 148 of the Act dated 03.04.2022 cannot be sustained and liable to be quashed. Since the legal grounds are adjudicated in favour of the assessee by quashing the re-assessment order the other grounds raised by the assessee on merits are not adjudicated. 14. In the result, appeal of the assessee is allowed." Unquote. 3.5 Similar view has taken by ITAT Pune Bench in the case of Vishnu Subhash Agarwal Vs. ITO in ITA No.2881/PUN/2024 wherein, notice u/s.148 dated 18.07.2022 was quashed by ITAT. 4. Respectfully follow....
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....ated 21/07/2014. Therefore, the addition of Rs. 12,75,000/- made for AY 2015-16 is bad in law. Hence, the AO is directed to delete the addition. This shows that the AO has not applied his mind. 6. Be it as it may be, the reasons for reopening were that assessee had purchased immovable property as per the information received by the AO on the Income Tax Portal. However, the AO has not bothered to verify the facts. AO issued Notice u/s 148 without application of mind mechanically. Had the AO read the impugned Deed of Apartment dated 21/07/2014 which also mentions Registered Agreement to Sale dated 12/12/2013,the AO would have understood that the payments were made in earlier year. However, the AO issued Notice u/s 148 without verifying bas....