Tribunal came to a factual finding that before passing the re-assessment order, notice of re-opening of the assessment was never served on the taxpayer or its authorised representative. This factual finding given by the Tribunal is not controverted and hence High Court held that no substantial question of law arose. The High Court further held that the Tribunal was correct in holding that section 292BB cannot be given a retrospective effect since the same was introduced in the Act in 2008.(AY. 2007-08)
PCIT v. Mahla Real Estate Pvt. Ltd. (2022) 210 DTR 182 / 324 CTR 614 (Raj.) (HC)
S. 148 : Reassessment –Notice – Failure to serve a copy of the Notice issued u/s. 148 before passing the re-assessment order would render the order as infructuous- Appeal filed by Revenue dismissed since no substantial question of law arise- Section 292BB was inserted in the Act in 2008 and cannot be given retrospective effect. [ S. 147, 292BB ]