Allowing the petitions, that Explanations A(a)(ii)/A(b) to the Notifications dated March 31, 2021 and April 27, 2021 were ultra vires the 2020 Act and were therefore bad in law and null and void. All the notices issued under section 148 of the 1961 Act were quashed with liberty to the Assessing Officers to initiate fresh reassessment proceedings in accordance with the relevant provisions of section 148A of the 1961 Act inserted by the Finance Act, 2021 and after compliance with the required mandatory conditions.
Bagaria Properties and Investment Pvt. Ltd. v. UOI (2022) 441 ITR 359 / 209 DTR 449 / 324 CTR 449 (Cal.)(HC) Manoj Jain v. UOI (2022) 441 ITR 418 (Cal.)(HC) Mon Mohan Kohli v. CIT (2022)441 ITR 207 / 209 DTR 65 / 324 CTR 28 (Delhi)(HC) Vikrant Suri v. ITO (2022) 441 ITR 726 (Delhi) (HC) Sudesh Taneja v. ITO (2022) 442 ITR 289 / 210 DTR 1005 / 324 CTR 577 / 286 Taxman 284 (Raj.)(HC) Vellore Institute of Technology v. CBDT (2022) 442 ITR 233 / 211 DTR 233 / 325 CTR 148 (Mad.)(HC) Bharati Hiren Uttamchandani v. UOI (2022) 285 Taxman 385 (Guj.)(HC) Dharmendra Gupta (HUF) v. ITO (2022) 285 Taxman 484 (Raj.)(HC)/Jalaj Joshi. v. ACIT (2022] 286 Taxman 688 (Raj)(HC)/Mohammed Mustafa v. ITO (2022)445 ITR 608/ 214 DTR 108/ 326 CTR 759/ 287 Taxman 277 (Karn)(HC)
S. 148 : Reassessment-Notice-Constitutional validity-The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021-Reassessment notices issued under section 148 of the Act are quashed. [S. 147, 148A, 149, 151, 151A, 153, 292 Relaxation of Certain Provisions) Act, 2020 (TOLA), S. 3(1) of the Act 38 of 2020, Art. 226]