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2016 (1) TMI 167 - ITAT KOLKATAValidity of reassessment proceedings - maintainability of appeal - Held that:- The appeal is maintainable before this tribunal against the order passed by the Learned AO u/s 143(3) read with section 147 read with section 144C pursuant to the directions of the DRP. The time limit for completion of this reassessment is within one year from the end of the financial year in which the notice u/s 148 was issued. The Learned AO did not seek to refer the case to Learned TPO u/s 92CA(1) of the Act in the reassessment proceedings. Hence he is not entitled for extended one year time limit for completion of reassessment. Hence the reassessment ought to have been completed by 31.3.2015. In the instant case, the Learned AO had completed the reassessment proceedings on 6.4.2015 which is beyond the time limit for completion of assessment prescribed in section 153 of the Act and accordingly the same is barred by limitation by 6 days. - Decided in favour of assessee.
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