👍👍👍👍👍Rajasthan HC stays Time barred Re-assessment Proceedings

Clipped from: https://taxguru.in/income-tax/rajasthan-hc-stays-time-barred-re-assessment-proceedings.html

Rajendra Bana Vs ITO (Rajasthan High Court)

Shri Vedant Agarwal, learned counsel representing the petitioner drew the Court’s attention to the order dated 11.10.2022 passed by Division Bench of this Court at Jaipur in D.B. Civil Writ Petition No.14794/2022 and urged that the impugned notice whereby, the re-assessment proceedings have been opened against the petitioner, is time barred because the amount involved is less than 50 lacs. It is submitted that the instructions dated 11.05.2022 issued by the CBTD are ultra-vires the provision of Income Tax Act, 1961 and hence, the impugned proceedings are invalid.

Issue notice. Shri KK Bissa, learned counsel puts in appearance on behalf of the respondents. Copy of the paper book has been provided to him. His name shall henceforth be shown in the cause list.

Shri Bissa, prays for and is granted four weeks’ time to file reply.

In the meantime, further proceedings sought to be taken against the petitioner as a consequence of notices (Annexures-1 & 2) dated 22.07.2022 shall remain stayed.

The respondents shall be at liberty to move an application for vacation of stay, if so desired.

List after four weeks alongwith D.B. Civil Writ Petition No.14794/2022.

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