ITO Vs Shapoorji Pallonji Mistry (Supreme Court of India)
The Supreme Court considered Special Leave Petitions filed by the Revenue in matters relating to reassessment under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA). The Revenue sought to challenge orders involving reassessment proceedings that were impacted by limitation disputes. The Court noted that these petitions were entirely covered by its earlier judgment in Union of India & Ors. vs. Rajeev Bansal delivered on 3 October 2024. In that ruling, the Supreme Court clarified that while TOLA granted extended timelines during the pandemic, reassessment actions must still comply with strict statutory limitation requirements.
Based on that precedent, the Supreme Court disposed of the Revenue’s petitions, directing that the reasoning in Rajeev Bansal would apply to these cases as well. Assessing Officers are required to address pending objections according to the legal principles already settled. The Court also stated that assessees may continue to pursue lawful remedies regarding issues not conclusively determined in the earlier judgment. All pending applications were accordingly disposed of.
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
1. Delay condoned.
2. These Special Leave Petitions are squarely covered by the Judgment of this Court rendered on 3-10-2024 in “Union of India & Ors. vs. Rajeev Bansal” (Civil Appeal No.8629/2024 etc.) 2024 (11) Scale 473.
