Allowing the petition the Court held that the newly inserted section\u00a0148A\u00a0of the\u00a0Income-tax Act, 1961\u00a0now specifically provides for issuance of a notice if the Assessing Officer takes a decision to initiate reassessment and therefore, a procedure has been laid down under section\u00a0148A\u00a0which is required to be adhered to by the Assessing Officer after April 1, 2021, i. e., the date on which the\u00a0Finance Act, 2021\u00a0([2021] 432 ITR (St.) 52) came into force. After April 1, 2021, it is a mandatory requirement that prior to reassessment proceedings notice under section\u00a0148A\u00a0of the Act should be issued to the assessee. On the facts\u00a0 it was not disputed that the notice was in fact issued under section\u00a0148\u00a0on April 16, 2021 though the date thereon was mentioned as March 31, 2021. The notice was not valid.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued under Section 148 on 16-4-2021-Not Valid. [S. 148, Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28542","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7qm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28542"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28542\/revisions"}],"predecessor-version":[{"id":28543,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28542\/revisions\/28543"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}