The Delhi High Court in the case Indian Renewable Energy Development Agency Ltd Versus PCIT observed and ahs accepted the returned income for 12 years as the limitation period to pass a fresh assessment order has expired. The bench comprising of Justice Rajiv Shakdher and Justice Girish Kathpalia in the case observed and has stated that the time limit fixed as per Section 153(2)(A) of the Income Tax Act or the time limit fixed by the amended provision, i.e., Section 153(3), the Assessing Officer, AO is bereft of jurisdiction and hence would have no legal locus to pass an assessment order. In the present case, the assessee or appellant challenged the proceedings which is initiated by the Revenue for passing a fresh assessment order pursuant to the directions of the ITAT as barred by limitation under Section 153(2A) and the amended Section 153(3). Therefore, the assessee filed its return for Assessment Year 1998–99 to AY 2009–10, which was subjected to scrutiny and assessment. An appeal was preferred for AY 1998-99 to AY 2002- 03 before the High Court and the said court remanded the matter back to ITAT for fresh consideration. However, the ITAT by an order dated November 21, 2014, remitted the matter to the Revenue for fresh consideration for AY 1998-99 to AY 2002-03 and also for AY 2003-04 to AY 2009-10. Further, the ITAT for AY 2003-04, vide order dated May 29, 2015 was dealing with the appeal effect order passed under Section 143(3) r.w.s. Section 263, wherein the court directed the Revenue to pass a fresh assessment order with regards to two issues. The department in the case issued the first notice which being pursuant to the ITAT order dated 29.05.2015, on 18.05.2-16, and for the remand order dated November 21, 2014, on June 17, 2016, concerning AY 1998–99. Thus, the assessee objected to the notice issued on grounds of limitation. In an earlier hearing before this Court, the coordinate bench permitted the Revenue to proceed and pass an assessment order with the condition that they would not give effect to it; however, no assessment order(s) had been passed by the Assessing Officer, AO despite of an opportunity which is being given by the court via an order dated August 8, 2018. The issue raised before the court was weather the limitation for passing a fresh assessment order in consonance with the order of the Tribunal had expired. The court in the case observed and has held that the assessment proceedings concerning Assessment Year 1998-99 to AY 2009-2010, which being pursuant to the orders of the Tribunal dated 21.11.2014 and May 29, 2015, have become time-barred. The court directed the Assessing Officer, AO to accept the return income lodged by the petitioner for the aforementioned Assessment Years. Thus, the return as available on record will be processed, and consequential orders will be passed.
The counsel, Advocate Ajay Vohra appeared for the Petitioner. The counsel, Advocate Abhishek Maratha represented the respondent.
