THE ACIT-CENTRAL CIRCLE-2, RAJKOT vs. SHRI VICKY BALKRISHNA MEHTA, RAJKOT

ITA 130/RJT/2020Status: DisposedITAT Rajkot22 February 2023AY 2004-05Bench: MRS. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)25 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the extended limitation period of 16 years, introduced by the Finance Act, 2012, could not be applied retrospectively as the original limitation period had already expired. Therefore, the notice issued under Section 148 was beyond the prescribed limitation.

What were the facts?

The Revenue appealed against the CIT(A)'s order quashing reassessment proceedings initiated under Section 147. The reassessment notice under Section 148 was issued on 27.02.2015 for AY 2004-05, which was beyond the original 6-year limitation period that expired on 31.03.2011.

What were the issues?

Whether the extended limitation period for issuing a notice under Section 148 can be applied retrospectively when the original limitation period had already expired. Whether the reassessment proceedings initiated beyond the original limitation were valid.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 149

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Income Tax Appellate Tribunal, RAJKOT BENCH, RAJKOT

Before: MRS. ANNAPURNA GUPTA & SHRI SIDDHARTHA NAUTIYAL

For Appellant: Shri D.M. Rindani, AR
Hearing: 28.11.2022Pronounced: 22.02.2023

PER ANNAPURNA GUPTA, ACCOUNTANT MEMBER:

This appeal is preferred by the Revenue against the order of the learned Commissioner of Income-tax (Appeals)-13, Ahmedabad (hereinafter referred to as “CIT(A)”) dated 22.01.2020 passed u/s 250(6) of the Income-tax Act, 1961, (hereinafter referred to as “the Act”) for Assessment Year (AY) 2004-05. 2. The grounds of appeal raised by the Revenue read as under:

“1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in quashing the proceedings u/s 147 of the Act in the case of the assessee.

2.

On the facts and in the circum

The order continues below.

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