PANAQUA TRADECOM PRIVATE LIMITED ( THROUGH DHAVAL DHIRAJ CHHAYA BEING EX-DIRECTOR OF THE APPELLANT),GWALIOR vs. INCOME TAX OFFICER, ASHOK NAGAR

ITA 199/AGR/2026Status: DisposedITAT Agra17 July 2026AY 2013-146 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the notice issued under Section 148 of the Act on 20.07.2022 was beyond the period of limitation, as per the Supreme Court's decision in Union of India v. Rajeev Bansal. Consequently, the reassessment proceedings were quashed.

What were the facts?

The assessee's case was reopened under Section 147/148 of the Income Tax Act. The initial notice under the old regime was issued on 21.05.2021. Following the Supreme Court decision in Ashish Agarwal, a new notice under Section 148A(b) was issued on 23.05.2022, with a reply filed on 02.06.2022. Subsequently, an order under Section 148A(d) and a notice under Section 148 were issued on 20.07.2022.

What were the issues?

The key issue was whether the notice for reassessment was issued within the prescribed period of limitation, considering the impact of various Supreme Court judgments and the Time of Limitation Act.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 148A,Section 149,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA (DB

Before: SUNIL KUMAR SINGH & BRAJESH KUMAR SINGH

For Appellant: Shri Sanjay Singh, Adv
For Respondent: Smt Sangeeta Yadav, CIT (DR)
Hearing: 09.07.2026Pronounced: 17.07.2026

PER: SUNIL KUMAR SINGH, JM. This appeal has been preferred against the impugned order dated 22.01.2026 passed in Appeal No NFAC/2012-13/10281812 by the ld Commissioner of Income Tax, NFAC (Delhi) [hereinafter referred to as the “CIT(A)] u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act), for the A.Y. 2013-14, wherein ld CIT(A) has remanded the matter back to the assessing officer for passing assessment order a fresh by invoking power under the proviso to clause 251(1)(a) of the Act.

2.

At the very outset, we notice that assessee has raised as many as 17 grounds under this second appeal. Ld AR has submitted that according to the legal ground no. 3 & 6, t

The order continues below.

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