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2022 (7) TMI 539 - AT - Income TaxValidity of reopening of assessment u/s 147 - Period of limitation - six year period for reopening of assessment - HELD THAT:- Assessment for the impugned assessment years have been reopened, in consequential or to give effect to findings of the Tribunal in their order for the assessment year 2004-05 dated 11.10.2012 and such assessment order has been passed on 31.12.2010. Further, by the time, assessment order for the assessment year 2004-05 was passed on 31.12.2010, six year period for reopening of assessment for the assessment years 2002-03 & 2003-04 was expired on 31.03.2009 & 31.03.2010 and thus, we are of the considered view that reopening of assessment in terms of section 150(1) of the Act, is clearly barred by limitation, because of exception provided u/s. 150(2) of the Income Tax Act, 1961, and thus, notice issued u/s. 148 and consequent assessment order passed u/s. 143(3) r.w.s. 147 for the assessment years 2002-03 & 2003-04 is barred by limitation. Hence, we quash reassessment order passed by the Assessing Officer for both the assessment years. - Decided in favour of assessee.
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