Vimaldevi Shyamsunder Khetan vs. ITO

Parties Involved

Facts Summary

The assessee, Vimladevi Shyamsunder Khetan, filed an appeal against the order of the learned Commissioner of Income Tax (Appeals)-NFAC, Delhi dated 24.02.2026 for the assessment year 2015-16. The Ld. Counsel for the assessee submitted that the notice issued under section 148 of the Act on 29.06.2021 is barred by limitation as per the decision of the Hon'ble Supreme Court in the case of Union of India & Ors. vs. Rajeev Bansal. The Ld. Counsel further submitted that the notice was issued after the statutory cut-off date of 31.03.2022 prescribed under the erstwhile regime, and there exists no provision, including the Taxation and Other Laws (Relaxation and Amendment) Act, 2020 (TOLA). The Revenue conceded that for the assessment year 2015-16, all notices issued on or after 01.04.2021 will have to be dropped as they will not fall for completion during the period prescribed under TOLA.…

Legal Issues

• 1. Whether the notice issued under section 148 of the Act on 29.06.2021 is barred by limitation?
• 2. Whether the reassessment framed pursuant to such notice is bad in law?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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