The assessee had not filed its return of income for Assessment Year 2008-09. Accordingly, reassessment proceedings u\/s 147 were initiated. The AO\u2019 had issued notice u\/s 148 beyond the time limit of six years. The AO passed an assessment order disallowing the claim u\/s 80P. On appeal, the CIT (Appeals) vide order dated 2 May 2019 annulled the assessment order. but gave direction u\/s 150 to consider that the income has escaped assessment and take remedial action u\/s 148 based on a Supreme Court decision. The Tribunal noted that in the present case, notice u\/s 148 could have been issued only by the end of the Assessment Year 2015-16. The Tribunal held that the CIT(A) cannot confer jurisdiction upon the AO which it did not have. Thus, as the limitation period of six years had lapsed, notice u\/s 148 could not be issued and thus reassessment proceedings u\/s 147 cannot be initiated. (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148: Reassessment- Notice- Order on appeal \u2013 If notice u\/s 148 is beyond the time limit, the CIT(Appeals) cannot give direction u\/s 150 to the AO to execute remedial action u\/s 148 [ S. 147, .148 149(1) (b), 150 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7208","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1Sg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=7208"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7208\/revisions"}],"predecessor-version":[{"id":8374,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7208\/revisions\/8374"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=7208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=7208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=7208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}