Salil Gulati v. ACIT (2023)455 ITR 24/ 150 taxmann.com 49 (Delhi)(HC) Editorial: SLP dismissed, Salil Gulati v. Asst. CIT (2023)455 ITR 29/ 293 Taxman 75 (SC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation-Extension of time limit for issuance of notice until 30-6-2021-Income escaping beyond 50 lakhs-Notice not barred by limitation. [S. 147, 148, 148A(b), 148A(d),149, Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020, S. 3. Art. 226]

On writ the assessee  challenged the order passed under section 148A(d) of the Income-tax Act, 1961 and the notice dated July 30, 2022 issued under section 148 for the assessment year 2013-14 on the ground that it was barred by limitation and the vires of Instruction No. 1 of 2022 dated May 11, 2022 [2022] 444 ITR (St.) 43) issued by the Central Board of Direct Taxes,  dismissing the petition, the Court held  that as the income escaping beyond 50 lakhs, notice is not barred by limitation in view of section 3 of  Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020 read with  the  Notification No. 20 of 2021 dated March 31, 2021 ([2021] 432 ITR (St.) 141) and Notification No. 38 of 2021 dated April 27, 2021 ([2021] 434 ITR (St.) 11). Accordingly  the first proviso to section 149 (as amended by the Finance Act, 2021) was not attracted and even without the benefit of Instruction No. 1 of 2022, dated May 11, 2022 the notice under section 148 was within limitation.(AY.2013-14)