2026 (8) TMI 548

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....reinafter referred as "The Act"]. 2. There was delay of 2 days in filing of this appeal. It was explained by the Ld. AR that the delay was due to mistake in computation of limitation period. Considering the explanation of the assessee, the delay in filing of this appeal is condoned. 3. The brief facts of the case are that the assessee did not file his return of income for A.Y. 2015-16. The Assessing Officer (hereinafter referred as the 'AO') had received an information that the assessee had sold an immovable property for a consideration of Rs. 62,00,000/- during the year and the capital gain arisen on the sale thereof was not offered to tax. Therefore, the AO had reopened the case u/s. 147 of the Act by issue of notice u/s. 148 on 21.....

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....f the grounds of appeal at the time of or before the hearing of the appeal. 6. Shri Vishnubhai Patel, the Ld. AR of the assessee submitted that the Ld. CIT(A) had dismissed the appeal of the assessee on ground of delay without adjudicating the grounds taken by the assessee on merits. The Ld. AR submitted that the reopening done in this case was bad in law as notice u/s. 148 of the Act was barred by limitation. He has drawn our attention to the judgement of Hon'ble Supreme Court in the case of Deepak Steel and Power Limited vs. CBDT, 174 taxmann.com 144 (SC) wherein it was held that for the A.Y. 2015-16 all notices issued on or after 01.04.2021 would have to be dropped as they would not fall for completion during period prescribed under T....

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....upra) while deciding on the issue of notice under Section 148 of the Act for the A.Y. 2015-16 has held as under: 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 v. Rajeev Bansal 2024 SCC On Line SC 2693/[2024] 167 taxmann.com 70/301 Taxman 238/469 ITR 46 (SC), more particularly, paragraph 19(f) which reads thus: - "19. (f) The Revenue concedes that for the assessment year 2015- 2016, all notices issued on or after April 1. 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) Ac....