2023 (2) TMI 413 - AT - Income Tax

Admission of additional grounds - HELD THAT:- There is no reason to restrict the power of Tribunal u/s 254 only to decide the grounds which arise from the order of the Commissioner of Income Tax (Appeals) and that both the assessee and department have a right to file an appeal/cross objections before the tribunal and the Tribunal should not be prevented from considering questions of law arising in assessment proceedings although not raised earlier. It has further held that the view that tribunal is confined only to issues arising out of the appeal before CIT(A) is too narrow a view to take of the powers of the tribunal. We further find that the case laws relied upon by DR are not applicable to the present facts of the case. Thus as per decision rendered in the case of National Thermal Power Co. Ltd. [1996 (12) TMI 7 - SUPREME COURT] admit the additional ground and proceed to dispose of the appeal.

Validity of assessment u/s 153C - period of limitation - assessee is challenging the assessment framed under Section 153C/143(3) of the Act being barred by limitation and therefore without jurisdiction - HELD THAT:- Since the date of receipt of assessment/ documents by the AO of the assessee was on 24th / 28th June 2013, the date of search in the case of the assessee in terms of proviso to Section 153C will be F.Y. 2013-14 and the relevant assessment year would be A.Y. 2014-15. Accordingly, the six assessment year for which notice could have been issued under Section 153C of the Act will be for A.Y. 2008-09 to A.Y. 2013-14. The impugned A.Y. 2006-07 being beyond the period of six years, according to us, is barred by limitation. See case of RRJ Securities Ltd [2015 (11) TMI 19 - DELHI HIGH COURT]

Revenue has not placed any contrary binding decision in its support nor has placed on record any material to demonstrate that the aforesaid decision rendered by Hon’ble Delhi High Court in the case of RRJ Securities Ltd. (supra) has been set aside/stayed or overruled by higher judicial forum - Decided in favour of assessee.