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Facts
The assessee's case was reopened based on information about significant cash deposits in bank accounts for AY 2014-15. The assessee filed a return of income after a notice under section 148 was issued, and subsequently failed to provide requested details, claiming non-receipt of notices.
Held
The Tribunal held that the notice for reopening the assessment under section 148 of the Income-tax Act, 1961, issued on 13.04.2022, was barred by limitation. This was based on the Supreme Court's decision in 'Union of India and others Vs. Rajeev Bansal' which held that the benefit of TOLA (Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020) was not available for AY 2015-16 for reopening beyond the prescribed period.
Key Issues
The primary issue was whether the reopening of the assessment for AY 2015-16 was barred by limitation, considering the applicability of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020.
Sections Cited
148, 147, 143(2), 142(1), 44AD, 144B
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “D” BENCH, KOLKATA
Before: SHRI RAJESH KUMAR, AM & SHRI PRADIP KUMAR CHOUBEY, JM
This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 12.06.2025 for the AY 2015-16.
The only issue raised by the Counsel of the assessee is in respect of A.Y. 2015-16, being time barred by limitation in consonance with the decision of the Hon'ble Apex Court in the case of Union of India and other Vs. Rajeev Bansal [2024] 469 ITR 46 (SC), dated 03.10.2024.
The facts in brief are that the case of the assessee was reopened upon credible information regarding cash deposited in bank account
The Ld. Counsel vehemently submitted before us that the notice issued u/s. 148 of the Act is barred by limitation as benefit of TOLA is not available to the assessment year 2015-16. The assessee relied on in defense of his arguments on the decision of Hon’ble Apex Court in the case of Rajeev Bansal (Civil Appeal No.8629 of 2024, reported in 167 taxmann.com 70 (SC) pronounced on 03.10.2024 which has been
After hearing the rival contentions and perusing the material available on record, we find that undisputedly, the notice u/s. 148 of the Act was issued on 13.04.2022which falls beyond the period of limitation as the relaxation granted by TOLA w.e.f. 01.04.2021 to 30.06.2021 is not available in the impugned assessment year as has been held in the case of Rajeev Bansal(supra) by the Hon’ble Apex Court and thereafter the said decision has been followed in the case of Ibibo Group Pvt. Ltd. (supra). We note that the Hon’ble Delhi High Court in the case of Ibibo Group Pvt. Ltd. (supra) held that the reopening of assessment for Ay 2015-16 is not permissible in the extended period as per TOLA on and from 01.04.2021. We also note that Hon’ble Rajasthan High Court in WP No. 3667 of 2023 dated 27.01.2025 has taken a similar view. The Hon’ble Apex court in the
In the result, the appeal of the assessee is allowed.
Order pronounced in the open court on 26.02.2026.