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| The Tax Publishers2020 TaxPub(DT) 0470 (Kol-Trib) INCOME TAX ACT, 1961
Section 148 Section 149(1)(c)
Clause (c) of section 149(1) inserted by Finance Act, 2012 extending time limit for reopening of assessment from six years to sixteen years could not come to rescue of AO for assessment year 2005-06 since proceedings under section 147 for relevant year had become time barred on 31-3-2012.
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Reassessment - Notice under section 148 - Time limit-AO taking plea of clause (c) to section 149(1) as regards notice having become time-barred before 1-7-2012 -
AO issued notice under section 148 dated 19-8-2013 so as to reopen assessment for assessment year 2005-06. Assessee challenged the notice as time barred AO took plea of clause(c) to section 149(1) introduced by Finance Act, 2012 by which period of limitation for issuance to notice under section 148 was extended upto sixteen years. Held: Clause (c) of section 149(1) inserted by Finance Act, 2012 extending time limit for reopening of assessment from six years to sixteen years could not come to rescue of AO for assessment year 2005-06 since proceedings under section 147 for relevant year had become time-barred on 31-3-2012.
Followed:DCIT v. Sri Biswanath Garodia I.T.A. Nos. 1672 to 1674/Kol/2018, dated 8-11-2019 and Asstt. CIT & Ors. v. Brahm Datt [Special Leave Petition (Civil) Diary No(s). 20207/2019, dt. 5-7-2019] : 2019 TaxPub(DT) 4779 (SC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2005-06
IN THE ITAT, KOLKATA BENCH
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