As per the provision of the Act there is no bar for reopening the assessment more than once. However the revenue has to satisfy the conditions prescribed as per the provisions of the Act .
In New Delhi Television Ltd v .DCIT ( 2020) 424 ITR 607 (SC) , the court as an obiter observed the revenue may issue notice benefit of second proviso if other wise permissible under the law . In CIT v. Central Ware Hosing Corporation ( 2015) 377 ITR 81 ( Delhi ) (HC ) the court quashed the reassessment on the ground that issue raised in second reassessment was part of original assessment hence not valid .
In Vodafone Sourh Ltd v. UOI ( 2014 ) 363 ITR 388 ( Delhi ) (HC) the Court held that an attempt by the Assessing Officer to revisit same issue for third time without any tangible or fresh material could not be held as a valid reassessment . Action of the Assessing Officer was nothing but the tax authorities effort to overreach the law and resultantly a sheer harassment to the assessee.
In Rallies India Ltd ( 2008 ) 411 ITR 452 ( Bom ) (HC) , SLP of revenue dismissed , ( 2019) 264 Taxman 25 (SC), the Court held that when High Court has set aside the reassessment on one issue, second reassessment notice u/s148 on another ground is held to be not valid .

Any reassessment proposed to be done after 1 -4 -2021 the Assessing Officer has to follow the new procedure as per section 148A of the Act . In following cases reassessment notice issued under section 148 (old ) provision is stayed by the High Court . The Court may decide the validity of such notices in due course of time . Armada DI Pte Ltd v. DCIT ( WPNO 1334 of 2021 dt-5-7 2021 ( Bom) ( HC) www.itatonline.org , Tata Communications Transformation Services Ltd v . ACIT (WP No .1334 of 2021 dt 5-7 2021 )(Bom) (HC) www.itatonline.org