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Facts
The assessee's return for AY 2015-16 was processed u/s 143(1). Subsequently, based on information from DG GST Intelligence about unpaid Service Tax on a Rs. 2.64 Cr incentive, the AO reopened the assessment by issuing a notice u/s 148 on 12.04.2021. The assessee also challenged a separate order passed u/s 263.
Held
The Tribunal quashed the reopening of assessment under Section 147/148, holding that the notice issued on 12.04.2021 for AY 2015-16 was time-barred and not protected by TOLA, as per Supreme Court decisions. Consequentially, since the re-assessment itself was quashed, there was no basis for the Section 263 order, which was also quashed, as the foundation for remedial action was extinguished.
Key Issues
1. Validity of reopening assessment under Section 147/148 for AY 2015-16 when notice was issued after 01.04.2021. 2. Validity of an order passed under Section 263 when the underlying re-assessment proceedings are quashed.
Sections Cited
Section 250, Section 263, Section 147, Section 148, Section 143(1)
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Income Tax Appellate Tribunal, DIVISION BENCH, ‘A’ CHANDIGARH
Before: SHRI RAJPAL YADAV & SHRI KRINWANT SAHAY
आदेश की �ितिलिप अ�ेिषत/ Copy of the order forwarded to :