2026 (8) TMI 1570

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.....Y. 2017-18 arising out the assessment order dated 31.05.2023 u/s. 147 of the Income-tax Act, 1961, (in short 'the Act'). The assessee also filed the cross objection in the appeal. 2. The appeal of Revenue is time barred by 6 days. The Revenue has shown the sufficient cause for not filing the appeal within time. The delay is condoned and appeal is admitted for adjudication. 3. The Revenue has raised the following grounds in appeal: 1.On the facts and in the circumstances of the case and in law the learned CIT(A) has erred in deleting the addition of Rs. 14,50,00,000/- made by the Assessing Officer under section 69A of the Income-tax Act 1961 without properly appreciating the fact that the assessee failed to satisfactorily pro....

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....of Rs. 15,37,81,132/-under section 69A of the Act and the total income Rs. 17,12,24,432/-. 5. Aggrieved the order of the AO the assessee filed the appeal before the Ld. NFAC who vide his order dated 24-10- 2025 allowed the appeal of the assessee. Being aggrieved the order of the Ld. NFAC the Revenue is in appeal before the Tribunal. The assessee also filed the cross objection in the appeal and stated legal issue. The Ld. AR of the assessee submitted that the assessee raised the legal issue which was raised before the Ld. NFAC but not decided by him. The legal issue raised by the assessee in cross objection in ground no.2 as under: That on facts and circumstances of the case and in law the NFAC/CIT(A) failed to appreciate that th....

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....file the reply as u/s 148A(b) i.e within 2 week 07-06-2022 Replied file by the assessee (pg.11-97) 02-06-2022 Time excluded as per Rajeev Bansal's Case 30-06-2021- to 30-06-2021 Time that was available /left to issue notice u/s 148 AS TOLA limit 0days Extended time to be given as per fourth Proviso to section 149(1) 7days Time limit to issue notice u/s 148 as per section 149(as amended by Finance Act, 2021 and as per Rajeev Bansal's case) i.e. 7 days from 11-06-2022 Order passed under section u/s 148 A(d) 27-07-2022 27-07-2022 Notice u/s 148 of the Act with prior approval of Pr. CIT Delhi (pg.102-104of PB) 27-07-2022 Notice u/s 148issued with prior approval of Pr. CIT D....

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....per amended section 149(1) (a) since the fresh notice dated 30-07-2022 issued pursuant to the liberty given by the Hon'ble supreme Court in the case Ashish Agarwal (Supra) was beyond the surviving period set out I the Rajeev Bansal's case (Supra), applicable for Ay2017-18........ 47. As a concurrence of discussion foregoing, we are of the considered opinion that the notice dated 30-07-2022 issued under section 148 of the Act of 1961 had been issued beyond the period of limitation as the same at the best could have been issued on 21-06-2022 as explained in table mentioned in para no. 39 and the table in para no. 41 ibd." 48. Since the notice dated 30-07-2022 is void -ab-initio, the subsequent and consequential proceedings, ....