DCIT Vs E-Homes Infrastructure Pvt. Limited (Supreme Court of India)
In DCIT vs E-Homes Infrastructure Pvt. Limited, the Supreme Court of India disposed of the Revenue’s Special Leave Petitions by holding that the issue involved was already covered by its earlier judgment dated 03.10.2024 in Union of India vs Rajeev Bansal. The Court condoned the delay and stated that the outcome of the present case would be governed by the reasons laid down in that earlier decision. It directed assessing officers to dispose of objections in accordance with the law declared in the said judgment. The assessee was given liberty to pursue remedies in accordance with law, except for issues already settled. Pending applications were also disposed of.
The dispute originated before the Delhi High Court, where the petitioner challenged an order dated 30.08.2024 passed under Section 148A(d) of the Income Tax Act, 1961, and a notice issued under Section 148 for Assessment Year (AY) 2016–17. The petitioner contended that the notice was time-barred, as it was issued beyond six years from the end of the relevant assessment year.
The Revenue argued that the reassessment proceedings were based on information obtained during a search conducted on 20.07.2022 in the case of another group. It was alleged that certain group entities had taken accommodation entries from suspected shell entities, and that the petitioner had availed a loan from one such entity. On this basis, the Revenue contended that the limitation period should be determined under Section 153C of the Act.
