TaxTMI 
TaxTMI 
2025 (5) TMI 2321
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....TC-1008 without considering the fact that in accordance with the provisions of The Registration Act, 1908, any arrangement regarding the transfer of immovable property is not deemed a valid contract unless it is executed through proper registration." 2. "On facts and circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition related to 19 units namely unit no. LTC- 909, LTC-805, LR-A-0803, LR-A-0504, LR-A-0505, LSG-705, LSG- 1205, LSG-1206, LSG-0806, LR-A-1002, LR-A-1003, LSG-1706, LSG- 1801, LH-1902, LH-1501, LLSM-1402, LLSM-1503&1504, LSM-1502 & LTC-1008 without considering the fact that mere booking with a small advance payment for a flat does not confer complete rights over the property to the buyer and The provisions of Section 43CA would only apply from the booking date if the entire purchase amount is paid at the time of booking and the transaction is conducted electronically, without any cash component. Since this was not the case in the above scenario, the date of registration will be used to determine the applicability of Section 43CA for determining the date of transfer of the property." 3. "On facts and circumstances of the cas....
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....eedings u/s 143(3) of the Act (e) The Ld. CIT(A) erred in not appreciating that reassessment proceedings initiated suffers from infirmity as the year involved is beyond 3 years from the end of relevant assessment year and there is nothing to show that income represented in the form of asset exceeding Rs. 50 lacs have escaped assessment in this case. 2. The Ld. CIT(A) erred in not appreciating that the unit sold namely LLSM-1003 was pertaining to A.Y. 2013-14 i.e. prior to introduction of section 43CA and hence, the provisions of section 43CA of the Act are not applicable on the transaction of booking done prior to 01.04.2013. 3. The respondent craves leave to add, alter or modify any ground of cross objection." 3. Before us Ld. Counsel for assessee submitted that ground raised in the cross objection challenging the validity of reopening goes to the root of the matter and therefore, same should be adjudicated first. Both the parties agreed on this issue, accordingly we have taken up the ground No. 1(c) of the cross objection for adjudication. 4. Before us Ld. Counsel for the assessee submitted that in the case notice u/s. 148 of the Act has been issu....
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....he status approving authorities whether it was PCIT or PCCIT, it would not make difference on reassessment. 6. We have heard rival submissions of the parties and perused the relevant materials on record. In the case issue in dispute is whether the sanction for issue of notice for reopening u/s 148 of the Act has been obtained from the appropriate authority. The relevant provision of section 151 during relevant period are reproduced as under: "Section 151 in The Income Tax Act, 1961 151. Sanction for issue of notice. Specified authority for the purposes of section 148 and section 148A shall be,-(i)Principal Commissioner or Principal Director or Commissioner or Director, if three years or less than three years have elapsed from the end of the relevant assessment year; (ii) Principal Chief Commissioner or Principal Director General or where there is no Principal Chief Commissioner or Principal Director General, Chief Commissioner or Director General, if more than three years have elapsed from the end of the relevant assessment year.]" 7. We find the Ahmadabad bench of Tribunal in the case of Dalpat Baraiya vs. ITO in I.T.A No. 1692/Ahd/2024 fo....
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....sponsibility on the Revenue to ensure that it obtains the sanction of the specified authority before issuing a notice under Section 148. The purpose behind this procedural check is to save the assesses from harassment resulting from the mechanical reopening of assessments. 128 A table representing the prescription under the old and new regime is set out below: Section 151(i) of the Three years or less than Principal new regime three years from the end of Commissioner or the relevant Principal Director assessment year or Commissioner or Director Section 151(ii) of More than three years Principal Chief the new regime have elapsed from the end Commissioner or of the relevant Principal Director assessment year General or Chief Commissioner or Director General 74. The above table indicates that the specified authority is directly co-related to the time when the notice is issued. This plays out as follows under the old regime: (i) If income escaping assessment was less than Rupees one lakh: (a) a reassessment notice could be issued under Section 148 within four years after obtaining the approval of the Joint Commissioner; and (b) no notice could be issued after....
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....nacted TOLA to ensure that the interests of the Revenue are not defeated because the assessing officer could not comply with the pre- conditions due to the difficulties that arose during the COVID-19 pandemic. Section 3(1) of TOLA relaxes the time limit for compliance with actions that fall for completion from 20 March 2020 to 31 March 2021. TOLA will PART E accordingly extend the time limit for the grant of sanction by the authority specified under Section 151. The test to determine whether TOLA will apply to Section 151 of the new regime is this: if the time limit of three years from the end of an assessment year falls between 20 March 2020 and 31 March 2021, then the specified authority under Section 151(i) has an extended time till 30 June 2021 to grant approval. In the case of Section 151 of the old regime, the test is: if the time limit of four years from the end of an assessment year falls between 20 March 2020 and 31 March 2021, then the specified authority under Section 151(2) has time till 31 March 2021 to grant approval. The time limit for Section 151 of the old regime expires on 31 March 2021 because the new regime comes into effect on 1 April 2021." 7.2. Furth....