Amendment to extend time limit for reassessment not applicable when notice was Illegal

DCIT  Vs Anand Pershad Jaiswal (ITAT Delhi)

Conclusion: Subsequent amendment to section 149, by Finance Act, 2012 which extended limitation for initiation of reassessment proceedings to sixteen years could not be resorted for reopening concluded proceedings and the notice issued under Section 149 was time barred and thus could not have been acted upon. Consequently, the impugned re-assessment order passed in consequence of the illegal notice under Section 148 was a nullity and bad in law.

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