HC issued notice and granted interim stay where reassessment notice is issued for AY 2013-14 on 13th April, 2021: The twist and Turn ahead

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HC issued notice and granted interim stay where reassessment notice is issued for AY 2013-14 on 13th April, 2021: The twist and Turn ahead

 

  1. The reassessment proceeding is again full of twists and turns post Ashish Agrawal judgement by the  Supreme Court.
  2. Department proceeded with reassessment based on CBDT instruction which is challenged by assessee being barred by limitation as provided in first proviso to section 149(1) of the Act (i.e. beyond 6 years period as provided in erstwhile law).
  3. This requires the court to interpret whether extension under old law through notification issued under TOLA would be read into while determining limitation under new law which specifically refers to limitation under old law.
  4. The Next date of hearing would be on 13th December 2022.

The copy of the order is as under:

[pdf-embedder url=”https://thetaxtalk.com/wp-content/uploads/2022/08/P-H-148.pdf” title=”1. The reassessment proceeding is again full of twists and turns post Ashish Agrawal 

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