Kolkata ITAT Quashes Time-Barred Reopening for AY 2015-16

Roy Banerjee Development Private Limited Vs ITO (ITAT Kolkata) Rajeev Bansal (SC) Strikes Again-Ashish Agarwal Doesn’t Save Time-Barred Cases- Kolkata ITAT Quashes Time-Barred Reopening for AY 2015-16 Kolkata ITAT ‘D’ Bench in Roy Banerjee Development Pvt Ltd vs ITO (ITA No.1584/Kol/2025, AY 2015-16, order dated 23-12-2025) allowed the assessee’s appeal and quashed the reassessment proceedings as barred by limitation, squarely applying the Supreme Court judgment in Union of India vs Rajeev Bansal (469 ITR 46). The assessee had filed its return on 08-01-2016 declaring a loss. Reopening...