S. 149 : Reassessment-Time limit for notice-Non-resident-Assets located outside India-Rule against retrospectivity-Intent and language to be considered-Whether new time limit would apply where assessments concluded prior to date of amendment-Matter referred to larger Bench-Finance Act 2012) (2012) 345 ITR 1 (St). [S. 147, 148, 149(1(c), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Amalgamation-Notice issued to non-existent transferor assessee after court-approved amalgamation-Assessment order passed against dissolved company-Notice and consequential proceedings invalid.[S. 147, 148, 148A(b), 148A(d), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Conversion of firm into private limited company-Notice in name of non-existent dissolved firm-Reassessment proceedings initiated against dissolved firm-All transactions actually conducted by successor company using its permanent account number-Department’s failure to consider conversion despite intimation Notice issued under section 148 and reassessment proceedings and reassessment order passed in name of non-existent firm set aside.[S. 142(1) 144, 144B, 147, 148, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Initial notice allowing five days to reply-Minimum seven days required to be granted under statute for assessee to respond-Assessee filing reply after five days-Order and notice set aside with direction to Assessing Officer to consider reply filed by assessee and pass appropriate order.[148, 148A(b),148A(d), 151, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice giving assessee less than seven days-Notice invalid-Limitation-Extended period of limitation Income alleged to have escaped less than fifty lakh rupees-Notice after three years-Barred by limitation.[S. 147, 148, 148A(b), 148A(d), 149(1)(a), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Interest income on bank deposits-Order dated 22-10-2019 of National Company Law Tribunal writing off of bank loans and waiving off of statutory dues Notice and order quashed and set aside Income.[S.127(2), 147, 148, 148A(b), 148A(d), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Order passed without considering the reply-Pendency of appeal-Directions were to be issued to the appellate authority to dispose of the appeals within a stipulated time frame, pursuant to which, the respondents could be directed to reconsider the matter afresh in accordance with law. [S. 148A(b), 148A(d), 250, Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Law applicable-Effect of amendment of section 148 with effect from 1-4-2022-Audit objection could form basis of notice.[S. 147,148, 148A(b), 148A(d), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Share application money-Shell companies-Penny stock-Pendency of appeal-Second reassessment proceedings while first reassessment proceedings pending-Transaction items mentioned in order under section 148A(d) not mentioned in notice-Non-application of mind by Assessing Officer and sanctioning authority Principal Chief Commissioner-Order under section 148A(d) and notice under section 148 quashed and set aside [S. 147, 148, 148A(b),148A(d), 151, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice-Satisfaction-Observations of court not to prejudice assessee or Department-Writ petition dismissed.[S. 147, 148, 148A(b), 148A(d), Arts. 226, 227]