Assessee filed writ petition challenging the reopening notice alongwith order passed under section 148A(d) on ground that the same were bad in law and without jurisdiction. Following the ratio in Keenara Industries (P.) Ltd. v. ITO (2023) 147 taxmann.com 585/ 453 ITR 51 (Guj)(HC) [2023] court held that reassessment notice issued for assessment year 2013-14, under old regime after expiry of six years limitation period were barred by limitation. Accordingly notice under section 148 and order under section 148A(d) were quashed, (AY. 2013-14)
Deekay Pine Board (P.) Ltd v. ACIT(2024) 167 taxmann.com 731 (Guj)(HC) Editorial : SLP is disposed of in terms of judgment of Supreme Court in UOI v. Rajeev Bansal [2024] 167 taxmann.com 70 (SC) Asstt. CIT v. Deekay Pine Board (P.) Ltd. (2024) 301 Taxman 552 (SC)
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued for assessment year 2013-14, under old regime after expiry of six years-limitation period were barred by limitation. [S. 147, 148, 148A(b), 148A(d), 149, Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, S.3, Art. 226]