ITO WD-3(1), KOLKATA vs. PERFECT WAHERS & FASTENERS (P) LTD, KOLKATA

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ITA 2599/KOL/2025Status: DisposedITAT Kolkata20 January 2026AY 2015-168 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, finding that the notice under Section 148 dated 29.07.2022 was issued beyond the permissible time limit as per the Supreme Court's ruling in Rajeev Bansal. Therefore, the reassessment proceedings were deemed invalid.

What were the facts?

The Revenue appealed against the CIT(A)'s order which held that the reassessment proceedings for AY 2015-16 were time-barred. The original notice under Section 148 was issued on 18.06.2021, and the subsequent notice was issued on 29.07.2022.

What were the issues?

Whether the reassessment notice issued under Section 148 was time-barred in light of the Supreme Court's decision in Union of India & Others Vs. Rajeev Bansal.

Which sections of the Income-tax Act were involved?

Section 148,Section 148A,Section 149,Section 68

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, “D” BENCH, KOLKATA

Before: SHRI RAJESH KUMAR, AM & SHRI PRADIP KUMAR CHOUBEY, JM

For Appellant: Shri Robin Maheswari, AR
For Respondent: Shri S.B. Chakraborthy, DR
Pronounced: 14.01.2026

This is an appeal preferred by the Revenue against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 17.09.2025 for the AY 2015-16.

2.

The only issue raised by the Revenue is against the order of ld. CIT (A) holding that 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.

3.

The facts in brief are that the assessee company is engaged in the business of Manufacturing and Exporter of Industrial Fasteners.

4.

Aggrieved assessee preferred the appeal before the ld. CIT (A), who allowed the appeal of the assessee by observing and holding as under:-

“6.0 CIT’s Decision: 6.1 The grounds of appeal, assessment order and submissions of the appellant have been carefully considered and adjudicated as under: 6.2 The grounds of appeal, copy of assessment order, submission of the appellant, statement of facts and Form 35 have been carefully considered and adjudicated as under: 6.3 The appellant, is company, has filed his return of income for the Assessment Year 2015-16 on 30.09.2015 declaring total Income of

5.

After hearing the rival contentions and perusing the materials available on record, we find that the notice u/s 148 of the Act in the present case could have been issued till 16.06.2022 whereas the

6.

In the result, the appeal of the Revenue is dismissed.

Order pronounced in the open court on 20.01.2026.

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