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Facts
The assessee, a partnership firm, filed its return for AY 2015-16. The AO completed the assessment, making an addition for bogus purchases. Subsequently, a reassessment notice was issued under Section 148 (old regime) on 30.06.2021, and then another notice under Section 148 (new regime) on 23.07.2022, leading to a significant addition for unexplained expenditure. The CIT(A) quashed the reassessment proceedings, citing invalid jurisdiction.
Held
The Tribunal upheld the CIT(A)'s decision, ruling that the reassessment notices issued for AY 2015-16 on or after April 1, 2021, were invalid. This was based on the Revenue's concession before the Supreme Court in Union of India v. Rajeev Bansal and subsequent High Court judgments, which stated such notices must be dropped as they do not fall within the period prescribed under TOLA.
Key Issues
The primary legal issue was the jurisdictional validity of reassessment notices issued under Section 148 for AY 2015-16 on or after April 1, 2021, in light of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) and Supreme Court pronouncements.
Sections Cited
Section 148, Section 143(3), Section 147, Section 144B, Section 69C, Section 139(1), Section 148A(b), Section 148A(d)
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Income Tax Appellate Tribunal, RAIPUR BENCH, RAIPUR
Before: SHRI R. K. PANDA & SHRI PARTHA SARATHI CHAUDHURY
आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. The concerned Pr.CIT, Raipur 4. DR, ITAT, Raipur Bench 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Assistant Registrar आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune
S.No. Details Date Initials Designation 1 Draft dictated on 09.12.2025 Sr. PS/PS 2 Draft placed before author 10.12.2025 Sr. PS/PS Draft proposed & placed before the 3 JM/AM Second Member Draft discussed/approved by Second 4 AM/AM Member 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS Date on which the file goes to the Office 9 Superintendent 10 Date on which file goes to the A.R. 11 Date of Dispatch of order