M/S. GANESH TRADING COMPANY,VAPI vs. ACIT, VAPI CIRCLE, VAPI

ITA 744/SRT/2026Status: DisposedITAT Surat17 September 2026AY 2017-1811 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the notice issued under Section 148 was time-barred as it was issued beyond the 'surviving time' permitted by Supreme Court decisions. Consequently, the assessment order was quashed.

What were the facts?

The assessee's assessment was reopened under Section 147 based on information received. A fresh notice under Section 148 was issued on 27.07.2022, which the assessee argued was time-barred. The CIT(A) upheld the AO's order.

What were the issues?

The primary issue was the validity of the notice issued under Section 148 for reassessment, specifically whether it was issued within the permissible time limits after considering Supreme Court rulings on reassessment procedures.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 148A,Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

For Appellant: Shri Gopalkrishnan Aiyer, CA
For Respondent: Shri Ashish Kumar, Sr. DR
Hearing: 20.08.2026Pronounced: 17.09.2026

Per B.M. Biyani, AM:

Feeling aggrieved by order of first appeal dated 13.03.2026 passed by learned Commissioner of Income-Tax (Appeals)-National Faceless Appeal Centre, Delhi [“CIT(A)”], which in turn arises out of assessment-order dated 22.05.2023 passed by learned Assessment Unit of Income-tax Department [“AO”] u/s 147 r.w.s. 144B of Income-tax Act, 1961 [“the Act”] for Assessment- Year [“AY”] 2017-18, the assessee has filed this appeal. M/s. Ganesh Trading Company

2.

The background facts leading to present appeal are as under:

(i) The assessee is a partnership firm.

(ii) The Ld. AO, on the basis of infor

The order continues below.

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