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TMI Blog2025 (3) TMI 993X X X X Extracts X X X X X X X X Extracts X X X X ..... t the foregoing detailed discussion mutatis mutandis to conclude that the impugned section 148 proceedings herein are not sustainable in law for want of valid section 151(ii) approval in very terms. The impugned reopening/reassessment stands quashed therefore. Appeal of assessee allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... quashed. 13. That in view of the facts and circumstances of the case, reassessment proceedings are barred by limitation in terms of section 149 of the Act having been initiated after a period of 3 years from the end of the relevant assessment year, without there being any income represented by an asset of more than Rs. 50 Lakhs, which has escaped assessment. 3. The Appellant further submits that the above-mentioned additional grounds of appeal pertain to purely a legal issue and do not involve any investigation of new facts and should be allowed to be raised at this stage as the same go to the root of the matter and hence, are absolutely necessary for rendering substantial justice in the matter. Furthermore, these grounds are raised in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll Cargo Global Logistics Ltd. vs. DCIT 137 ITD 287 (Mum-SB) settling the issue in assessee's favour that the tribunal could very well entertain such additional ground(s) going to the root of the matter for the purposes of determining correct tax liability in a particular case subject to a rider that all relevant facts thereof form part of the records. We make it clear that there is no dispute raised at the Revenue's behest regarding the relevant facts duly emanating from the case file. We thus admit the assessee's foregoing additional ground for our apt adjudication. 5. Next comes the legal issue between the parties. Learned senior counsel first of all refers to the Assessing Officer's section 148 notice dated 30th June, 2021 issued after ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expiry of four years from the end of the relevant assessment year Joint Commissioner Section 151(1) of the old regime After expiry of four years from the end of the relevant assessment years Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner Section 151(i) of the new regime Three years or less than three years from the end of the relevant assessment year Principal Commissioner or Principal Director or Commissioner or Director Section 151(ii) of the new regime More than three years have elapsed from the end of the relevant assessment year Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General 74. The above table indicates that the speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rector; and (b) no notice could be issued after the expiry of three years; and (ii) If income escaping assessment is more than Rupees fifty lakhs: (a) a reassessment notice could be issued within three years after obtaining the prior approval of the Principal Commissioner, or Principal Director or Commissioner or Director; and (b) after three years after obtaining the prior approval of the Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General. 76. Grant of sanction by the appropriate authority is a precondition for the assessing officer to assume jurisdiction under Section 148 to issue a reassessment notice. Section 151 of the new regime does not prescribe a time limit within which a specif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 to grant approval. The time limit for Section 151 of the old regime expires on 31 March 2021 because the new regime comes into effect on 1 April 2021." 7. Suffice to say, it has come on record in light of their lordship's detailed discussion in para 75 hereinabove that section 151(ii) approval in the instant case involving escaped income of Rs. 50 lakhs or more, had to be obtained under the "new regime" from the "Principal Chief Commissioner" etc. We accordingly adopt the foregoing detailed discussion mutatis mutandis to conclude that the impugned section 148 proceedings herein are not sustainable in law for want of valid section 151(ii) approval in very terms. The impugned reopening/reassessment stands quashed therefore. 8. All other p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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