S. 149 : Reassessment-Time limit for notice-Retrospective applicability of S. 149(1)(c)-Explanation inserted by Finance Act, 2012 clarifies that amended sub-ss. (1) and (3) apply to “any assessment year” beginning on or before 1-4-2012-Word “any” not restrictive-Amendment to s. 147 by insertion of Expln. 4 also relevant-Earlier decision in Brahm Datt not considering said Explanation and Notes on Clauses-Matter referred to Chief Justice for constitution of Larger Bench. [S. 147, 148, 149(1)(c), Art. 226]

S. 148A : Reassessment-Conducting inquiry and providing opportunity before issue of notice-Faceless collection of information-No challenge to constitutional validity of S. 135A-Disputed factual issues cannot be examined in writ jurisdiction-Reassessment notice upheld and writ petition dismissed. [S. 135A, 148, Art. 226]

S. 148A : Reassessment-Conducting inquiry and providing opportunity before issue of notice-Reopening after approval of resolution plan under Insolvency and Bankruptcy Code-Alleged transactions with shell companies for tax evasion-CIRP cannot be used to defeat reassessment proceedings-Writ petition dismissed. [S. 148,148A(b), 148A(d), Insolvency and Bankruptcy Code, S.31, Art. 14, 19, 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice-Limitation-Where the first notice under s. 148 issued on 23-6-2021 (to be treated as notice under s. 148A(b) in view of Ashish Agarwal) was within extended time up to 30-6-2021 under TOLA, the order under s. 148A(d) and consequential second notice under S. 148 were required to be issued within seven days of assessee’s reply; second notice dated 14-7-2022 being beyond limitation, entire proceedings quashed. [S. 148, 148A(b), 148A(d), 149, 151, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation-Notice under s. 148A(b) issued on 28-3-2024 within three years is the relevant date for computing limitation-Subsequent notice dated 22-4-2024 issued pursuant to assessee’s reply does not extend or shift limitation-Notice under s. 148 dated 30-4-2024 not barred by limitation. [S. 148, 148A(b), 149(1), Art. 226]

S. 147 : Reassessment-Search and seizure-Reasons recorded based on material unearthed during search-Where proceedings are founded on search material, recourse must be taken under sections 153A/153C and not under section 147-Notice issued under section 147 held without jurisdiction. [S. 132, 148, 153A, 153C, Art. 226]

S. 147: Reassessment-Alternative remedy-writ petition almost after expiry of one year from the date of passing the impugned assessment order-Writ petition dismissed. [S. 144, 144B, 148, Art. 226]

S. 147 : Reassessment-Capital gains-Exemption under S. 54F-Investment in a residential house-Separate floors of same house purchased by family members-To be regarded as one residential house-No failure to disclose material facts-Reopening invalid [S. 45, 54F, 260A]

S.147: Reassessment-After the expiry of four years-Deduction claimed twice-Reassessment is justified.[S.37(1), 148, Art. 226]

S. 147: Reassessment-After the expiry of four years-Double deduction-Failure to disclose fully and truly all material facts-Reopening valid-Writ not maintainable when alternate remedy availed-Order of Single Judge affirmed.[S. 37(1), 148, Art. 226]