S. 149 : Reassessment-Time limit for notice-Notice after three years-Limitation-Extension of limitation period under 2020 Act-Notice for Assessment Year 2016-17 issued after April 2021-Alleged escapement of income less than Rs. 50 Lakhs-Notice is barred by limitation.[S. 147, 148,151, 156, Taxation and other Laws (Relaxation In Amendment Of Certain Provisions) Act, 2020, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Ex-parte order-If debits considered escapement of income would be within threshold limit of Rs. 50 Lakhs-Opportunity of hearing is not given-Assessment order and notices are quashed and set aside. [S. 147, 148, 148A(b), 148A(d), Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Search-Assessment of third person-Reassessment based on incriminating material and information collected prior to and post search-Permissible only under Section 153C-Reassessment cannot be made under Section 147-Notices and orders set aside. [S. 132, 147, 148,153A, 153C,Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Death of assessee-Intimated to Department-Proceedings for earlier assessment years dropped for reason that notices issued against dead person invalid-Notice and proceedings void ab initio-Notices and orders set aside. [143, 147, 148, 148A(b), 148A(d), Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Settlement Commission-Settlement of cases-Reassessment-Order passed by way of settlement of case is conclusive-Order cannot be reopened except in case of fraud or misrepresentation-Issues considered by Settlement Commission-Re assessment notice is not valid. [S. 147, 148,148A(b), 148A(d), 245D(4), 245D(6), 245D(7), 245H, 245I, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Settlement Commission-Settlement of cases-Reassessment-Order passed by way of settlement of case is conclusive-Order cannot be reopened except in case of fraud or misrepresentation-Issues considered by Settlement Commission-Re assessment notice is not valid. [S. 147, 148,148A(b), 148A(d), 245D(4), 245D(6), 245D(7), 245H, 245I, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued on the ground of non filer of return of income-Return was filed and refund was granted-Notice and order is quashed. [S. 139, 143(1), 147, 148, 148A(b), 148A(d), 149, 151, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Information from insight portal that assessee had transacted with Mutual Fund found to be involved in scam-No nexus between belief and material-Reassessment notice and order disposing the objection is quashed-Court can examine relevancy of recorded reasons in writ jurisdiction. [S. 147, 148, 148A(b), 148A(d), Art. 226]

S. 148: Reassessment-Notice-Limitation-Amendment in law-Effect of amendment with effect from 1-4-2021-Notices dated 31-3-2021, but dispatched on 1-4-2021 or thereafter from Income-Tax Business application portal-Notices barred by limitation. [S. 147, 148, 149, 151, Art. 226]

S. 147 : Reassessment Business expenditure-Incidental benefit to third party is not relevant-Notice and order disposing the objection. is quashed. [S.37(1), 148, Art.226]