Anand Swaroop Vs ITO (ITAT Delhi)
AY 2015-16: Fresh s.148 notice after 01-07-2022 is time-barred
Delhi ITAT quashed reassessment proceedings by holding that the notice issued u/s 148 on 14-07-2022 was barred by limitation. The Tribunal noted that the original notice dated 30-06-2021 issued under the unamended law was treated as a show-cause notice pursuant to Ashish Agarwal, & the fresh notice could be issued only within the “surviving period” as clarified by the Supreme Court in Rajeev Bansal. For AY 2015-16, the last permissible date to issue a fresh notice was 01-07-2022, & further, the Revenue had conceded before the Supreme Court that all notices issued on or after 01-04-2021 for this assessment year must be dropped, as TOLA does not apply. Relying on Deepak Steel & Power Ltd., Rajeev Bansal, & consistent Delhi High Court & ITAT precedents, the Tribunal held the impugned notice & the consequential assessment to be void ab initio. Once the notice was quashed, all additions on merits were rendered academic & the assessee’s appeal was allowed in full
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal by the assessee is preferred against the order of the NFAC, Delhi dated 20.03.2025 pertaining to A.Y. 2015-16.
