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TMI Blog2022 (7) TMI 539X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered 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. - I.T.A. Nos. 3277 & 3278 / Chny/ 2016 - - - Dated:- 1-7-2022 - SHRI V. DURGA RAO , JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTANT MEMBER Appellant by : Mr. T. Banusekar , C. A., Respondent by : Mr. P. Sajit Kumar , JCIT ORDER Per G. Manjun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the books of the appellant and adopting the valuation as given by the DVO. 8. For that, without prejudice to the above grounds, the Commissioner of Income Tax (Appeals) failed to appreciate the revised cost of construction arrived by the Registered Valuer after distinguishing DVO's Valuation Report. 9. For that, without prejudice to the above grounds, the Commissioner of Income Tax (Appeals) failed to appreciate that the Assessing Officer ought to have adopted State PWD rates instead of CPWD rates in estimating the cost of construction. 10. For that, without prejudice to the above grounds! the Commissioner of Income Tax (Appeals) ought to have directed the Assessing Officer to consider the cost of extra Items and addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment order for the assessment year 2004-05 was passed time limit for issue of notice u/s. 148 was expired for both the assessment years and thus, even if direction from the Tribunal, assessment cannot be reopened, in view of the provisions of section 150(2) of the Income Tax Act, 1961. The learned CIT(A), however, was not satisfied with the explanation furnished by the assessee and according to the CIT(A), assessment has been reopened in pursuant to direction of the Tribunal, as per which assessment can be reopened as per provisions of section 150(1) of the Income Tax Act, 1961, and thus, rejected legal ground taken by the assessee. Aggrieved by the CIT(A) order, the assessee is in appeal before us for both assessment years. 4. The lear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oth the parties, perused material available on record and gone through orders of the authorities below. We have carefully considered dates and events and relevant provisions of section 150(1) 150(2) of the Income Tax Act, 1961. Admittedly, assessments for the assessment years 2002-03 2003-04 have been reopened in pursuant to direction contained in the order of the Tribunal for the assessment year 2004-05 dated 11.10.2012. In fact, the Assessing Officer had reopened assessments for both assessment years on the basis of directions contained in the order of the Tribunal. Admittedly, assessment for the assessment year 2004-05 has been completed u/s. 143(3) r.w.s. 147 of the Act, on 31.12.2010. Further, when the assessment order for the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of the Hon'ble Andhra Pradesh High Court in the case of CIT Vs G. Viswanatham (supra), where it has been held that order of original assessment as well as AACs and Tribunal's order being barred by limitation u/s. 149(1)(b) of the Act, reopening to give effect to the order of the Tribunal was barred u/s. 150(2) of the Income Tax Act, 1961. A similar view had been expressed by the Hon'ble Punjab Haryana High Court in the case of Parveen Kumari Vs CIT (supra), wherein, it has been held that notice issued u/s. 148 of the Act, in pursuant to the direction or order of the CIT(A) is barred by limitation, as the orders of the CIT(A) which was subject matter of appeal before the Tribunal was passed on dates which fell beyond time ..... X X X X Extracts X X X X X X X X Extracts X X X X
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