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2017 (12) TMI 663 - AT - Income TaxReopening of assessment - Time limit for notice - period of limitation - assessment barred by limitation - Held that:- Hon’ble kerala High Court in case of CIT Vs. Vaikundam rubber Co. Ltd. (2000 (11) TMI 52 - KERALA High Court ) and accordingly hold that the limitation for reassessment has to be considered on the date when the ld. CIT (A) passed the order in case of M/s Tirupati Automobiles Pvt. Ltd. which was subject matter of appeal before the Tribunal in which the Tribunal passed the directions on 26.03.2010. There is no dispute that the ld. CIT(A) in case of M/s Tirupati Automobiles Pvt. Ltd. passed the order on 15.07.2009 and on that date the limitation for reassessment for the assessment years 2001-02 & 2002-03 already expired as 6 years from the end of the relevant assessment years expired on 31.03.2008 and 31.03.2009 respectively. Therefore, the limitation as on the date of the order passed by the ld. CIT(A) dated 15.07.2009 was not available for reassessment of this income for these two assessment years. Accordingly, the reopening of the assessment is barred by limitation as provided u/s 149 r.w.s. 150(2) of the Act. - Decided in favour of assessee.
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