SAINIK CO OPERATIVE HOUSE BUILDING SOCIETY LIMITED,JAMMU AND KASHMIR vs. ITO WARD 1(1), JAMMU, JAMMU

ITA 698/ASR/2024Status: DisposedITAT Amritsar08 September 2025AY 2013-14Bench: SH. MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND SH. UDAYAN DASGUPTA (Judicial Member)23 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reassessment notice issued under Section 148 was barred by limitation, as the 'surviving period' for issuing the notice expired before it was issued. Consequently, the reassessment proceedings were quashed.

What were the facts?

The assessee, a co-operative society, failed to file a return for AY 2013-14 despite significant cash deposits. The AO initiated reassessment proceedings under Section 147, making an addition for unexplained cash. The CIT(A) dismissed the appeal for non-compliance.

What were the issues?

The primary issue was the validity of the reassessment notice issued under Section 148, specifically whether it was within the permissible time frame considering the 'surviving period' as interpreted by the Supreme Court.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 148A,Section 149,Section 69A

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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: SH. MANOJ KUMAR AGGARWAL & SH. UDAYAN DASGUPTA

For Appellant: CA & Sh. V.S
Hearing: 10.07.025Pronounced: 08.09.2025

Per: Udayan Dasgupta, J.M.: This appeal is filed by assessee against order of Ld. CIT (A), NFAC, Delhi, passed u/s 250 of the Act 1961, dated 14.11.2024 which has emanated from the order of the AO, W-(86) (1), dated 23/05/2023, passed u/s 147/144 of the Act 61. 2. The grounds of appeal in Form No. 36 are as under:

“1. That the CIT(A) has erred in facts and in law in confirming the addition made by me AO at Rs. 7210627/- on account of cash deposited in bank vide order passed u/s 147 dated 14.11.2024 2 Assessment Year: 2013-14

2.

That the CIT(A) has erred in deciding the appeal in limine without adjudicating the case on merits.

3.

That the CIT(A) has erre

The order continues below.

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