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2020 (2) TMI 263 - AT - Income TaxReopening of assessment u/s 147 - period of limitation - Re-assessment allegedly framed on 3103-2016 as served only on 18-08-2016 i.e after 140 days - HELD THAT - Re-assessment is not sustainable since it was framed beyond the stipulated time limit period.
Issues:
1. Validity of reassessment order served beyond the limitation period. Analysis: Issue 1: Validity of reassessment order served beyond the limitation period - The assessee contended that the reassessment order served after 140 days was invalid. The CIT(A) discussed the issue and rejected the appellant's argument, stating that the uploading of demand on the website did not prove the creation of demand on that date. The Revenue argued that the reassessment was indeed framed on 31-03-2016. The tribunal referred to a similar case where an assessment was held to be valid even beyond the limitation period. The tribunal examined various judgments cited by the assessee to support the claim that the assessment order was served after the time limit. The assessing officer failed to provide proof countering the assessee's allegation, leading to the quashing of the assessment order dated 31/03/2014. The tribunal upheld the CIT(A)'s decision to quash the assessment as it was not framed within the prescribed time limit. The Revenue's argument citing a high court decision was dismissed, emphasizing that efforts were made to ascertain if the assessment was within the statutory time limit, which the assessing authority failed to prove. The tribunal relied on a Kerala high court judgment to support the decision. The reassessment was deemed unsustainable as it was framed beyond the stipulated time limit, leading to its quashing and rendering other merit-based issues moot. This detailed analysis of the judgment from the Appellate Tribunal ITAT Kolkata highlights the arguments presented by both parties, the legal interpretations made, and the final decision regarding the validity of the reassessment order served beyond the limitation period.
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