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2018 (6) TMI 366 - AT - Income TaxReopening of assessment - notice barred by limitation - non-residents have not filed their respective individual returns of income by disclosing the incomes from the long term capital gains - scope of amendment to sub section 149(3) - Held that:- The assessment year involved is 2007-08 and the time limit for issue of notice u/s 148 was barred by limitation on 31.10.2010. The amendment to sub section 149(3) has come into force from 01.04.2012 i.e. after expiry of time limit for issue of notice u/s 148 in the case of the assessee. Therefore, we hold that the amendment is not applicable for enlargement of the time limit for issue of notice u/s 148 and the case is squarely covered by the decision of Madhucon Sino Hydro JV Vs. DCIT [2015 (7) TMI 840 - ITAT HYDERABAD] and case of S.S.Gadgil (1997 (12) TMI 4 - SUPREME COURT). Therefore, respectfully following the view taken by the Coordinate Bench, Hyderabad, we hold that reassessment proceedings initiated by the AO in this case is also barred by limitation. - Decided in favour of assessee.
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