2025 (4) TMI 1095 - SCH - Income Tax

Reopening of assessment under old regime - scope of new regime - scope of TOLA - as argued notice has been issued on the basis of the provisions which have ceased to exist and are no longer in the statute - As decided by HC as informed by counsel for Petitioner/s that these Petitions will be covered by the judgment in Hexaware Technologies Limited. 2024 (5) TMI 302 - BOMBAY HIGH COURT Counsel for Respondent/s concur. Therefore the notices and orders impugned in these petitions are quashed and set aside. In case any re-assessment order is passed the same also will stand quashed. HELD THAT - Special Leave Petition is dismissed as it does not survive for further consideration. In this regard reference could also be made to paragraph 19(e) and (f) in the case of Union of India vs. Rajeev Bansal 2024 (10) TMI 264 - SUPREME COURT (LB) under which the learned Additional Solicitor General for India has made a concession insofar as the assessment year 2015-16 is concerned. Pending application(s) if any shall stand disposed of.

Summary

The Supreme Court, through Hon'ble Mrs. Justice B.V. Nagarathna and Hon'ble Mr. Justice Prasanna B. Varale, condoned the delay and dismissed the Special Leave Petition (SLP) following the precedent set in Income Tax Officer Ward 1(2) Jaipur vs. R.K. Build Creations Pvt. Ltd. (SLP (Civil) Diary No. 59625 of 2024). The Court relied on the concession made by the petitioner-Department in Union of India vs. Rajeev Bansal, Civil Appeal No. 8629 of 2024 (2024 SCC ONLINE 754), where the Additional Solicitor General conceded regarding the assessment year 2015-16. The Court held that the SLP "would not survive for further consideration" and accordingly dismissed it, disposing of all pending applications.