During survey conducted by Investigation Wing at premises of assessee and its group companies, it was noticed that its group companies were engaged in unaccounted cash transactions and provided bogus share capital and share premium to other companies Assessing Officer on perusal of investigation report concluded that transfer of shares carried out by assessee was of inconsistent value and required examination. He passed an order under section 148A(d) and issued reopening notice on 20-7-2022. The assessee filed writ petition challenging the said notice on ground that same was time barred. Dismissing the petition the Court held that on the facts of the case initial reopening notice issued on 29-6-2021 which was earlier quashed, stood revived by decision of Supreme Court in UOI   v. Ashish Agarwal (2021) 444 ITR 1 (SC)  wherein it was held that reopening notices issued under unamended section 148 between 1-4-2021 and 30-6-2021 will be deemed to be issued under section 148A, thus, first proviso to section 149 would not be attracted. Since income alleged to have escaped being more than Rs. 50 lakhs, section 149(1)(b) was satisfied and, thus, impugned reopening notice issued was not  time barred. (AY. 2013-14)