In this case the Hon’ble High Court held that in the present case reassessment order was passed pursuant to the notice dated 31.03.2021 issued under section 148 of the Act. Subsequent notice issued under section 148A(b) leading to passing of order under section 148A(d) and notice under section 148 pursuant to judgment passed in UOI v. Ashish Agarwal [2022] 444 ITR 1 (SC) is invalid. The decision of Hon’ble Supreme Court in the case of Ashish Agarwal does not mandate completed assessment to be reopened.(AY. 2014-15)
Satish Chand Jain v. ACIT (2024) 301 Taxman 27 (Delhi)(HC)
S. 148A: Conducting inquiry, providing opportunity before issue of notice under section 148-decision of Hon’ble Supreme Court in the case of UOI v. Ashish Agarwal [2022] 444 ITR 1 (SC) does not mandate reopening of completed assessment.[S. 147, 148, 148A(b), 148A(d), Art. 226]