Question And Answer
Subject: Limitation period for issuing notice u/ s 148 is extended up to 30-6 2021 , However new section 148A is also operative w.e.f 1-4-2021 , whether notice u/s 148 is liable to be issued under section 148 or 148A ?
Querist: BSHAH
Answered by:
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Date: May 15, 2021
Query asked by BSHAH

Date for issuing notice u/s 148 for AY 2013-14 is extended upto 30-6-2021. At the same time new section 148A is also operative w e f 1-4-2021.

whether notice issued on 1-4-21 is liable to procedures u/s 148 or 148A?

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Answer given by

A look at the Income-tax Act, 1961, post amendment by the Finance Act, 2021, makes it clear that the amendment to Section 148 has been made from 1-4-2021. This clearly implies that from 1-4-20201, the amended Section 148 shall come into force. The extension of date for issue of notice u/s 148 is only an extension of limitation. It cannot over-ride a substantive amendment in procedural law. The Provisions of Section 148 shall have to be read in their amended form from 1-04-2021 in the absence of a saving clause for the older procedure envisaged by Section 148 in its pre-amended form. A considered view can therefore be taken that a notice on 1-4-2021 is liable to the new procedure envisaged by Section 148A and the amended Section 148 as read with the other amended / inserted provisions regarding reassessment as made by the Finance Act, 2021, in the Income-tax Act, 1961. There is a possibility that this issue may see substantial litigation in the near future, especially in the form or writ petitions before the High Court. As this question has been answered for educational purposes, you are requested to obtain proper legal advice based upon the facts and circumstances of your case by a tax professional of your choice.

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