Topic
TOLA, or the Taxation and Other Laws (Relaxation of Certain Provisions) Act, 2020, temporarily extended limitation periods for income tax reassessment notices under Section 148 of the Income Tax Act, 1961, but only for specific assessment years.
ITAT Surat quashed a reassessment notice u/s 148 issued after 01.04.2021 for AY 2015-16, relying on Rajeev Bansal (SC) and Deepak Steel (SC). The ruling clarifies procedural validity of reassessment notices under amended Section 147-149 post-TOLA amendments.
ITAT Delhi rules that reassessment notices under Section 148 of the Income Tax Act for AY 2015-16 issued after 01.04.2021 are barred by limitation, as TOLA provisions do not apply. The decision reinforces the Supreme Court’s concession in Union of India v. Rajiv Bansal and sets a precedent for taxpayers challenging belated reopening proceedings.
ITAT Delhi has ruled that reassessment notices issued under Section 148 after 1 April 2021 for assessment years prior to 2017-18 are time-barred if the original assessment was never completed under Section 143(3), reinforcing that the amended limitation period applies retroactively to protect taxpayers from stale reassessments. This decision impacts thousands of pending cases where notices were issued based on old procedural norms.
ITAT Delhi rules that reassessment notices under Section 148 of the Income Tax Act for Assessment Year 2015-16 issued after 01.04.2021 are time-barred, affirming the Supreme Court's judgment in Union of India v. Ashish Agarwal. The decision reinforces that the Taxation and Other Laws (Amendment) Act, 2020 (TOLA) does not extend the limitation period for reassessment under the old regime, impacting pending tax reassessment proceedings.
ITAT Rajkot rules that reassessment notices under Section 148 of the IT Act are invalid if the escaped income falls below the ₹50 lakh threshold mandated by Section 149(1)(b). The tribunal also held that notices issued beyond the surviving limitation period under TOLA are time-barred, reinforcing procedural compliance as a jurisdictional prerequisite. This ruling impacts taxpayers facing reassessment for AY 2016-17 and beyond, setting a precedent for threshold-based jurisdictional challenges.
ITAT Ahmedabad rules that reassessment notices issued under Section 148 of the Income Tax Act beyond the prescribed limitation period are jurisdictionally defective and void. The decision reinforces strict compliance with procedural timelines, protecting assessees from belated tax scrutiny without valid grounds.
ITAT Delhi holds that notice under Section 148 issued on 27-07-2022 for A.Y. 2015-16 is time-barred under Section 149, following Union of India v. Rajeev Bansal. Assessment quashed.
ITAT Delhi quashes Section 148 notice for A.Y. 2015-16 issued on 05.04.2022, holding it time-barred under TOLA's three-year limitation, reinforcing statutory compliance over procedural defaults.