Sanjay Kumar Bhutra Vs ITO (ITAT Kolkata)
ITAT Kolkata held that issuance of reassessment notice under section 148 of the Income Tax Act expiry of specified period of limitation is time barred and hence invalid and bad-in-law. Accordingly, appeal of assessee is allowed and notice is quashed.
Facts- In the present case, the case was reopened for the assessment year 2013-14 by the jurisdictional AO by issuing original notice on 30.06.21 as per old regime and after that in view of the decision of the Hon’ble Supreme Court in Union of India Ashish Agarwal [2022] 138 taxmann.com64/286 Taxman 183/444 ITR 1 (SC) wherein it has been held that notices issued u/s 148 of the Act considered the period from 01-04-2021 to 30-06-2021 under old regime are deemed to be show-cause notice issued u/s 148A(b) under the new regime and directed AO to allow the opportunity in respect of such notice. Accordingly, AO provided the information as per instruction of the Hon’ble Supreme Court on 01.06.2022 to the assessee and response date given to the said notice by 15.06.22. It is seen from the record that the assessee did not reply and order u/s 148 and notice u/s 148A(b) was issued on 19.07.2022. The ld. AR challenges the issuance of the notice i.e on 19.07.2022 being invalid keeping in view the decision of Union of India v. Rajeev Bansal.
