Assessee challenged notice issued under un-amended section 148 on ground that they were not sustainable in law having been issued after 1-4-2021 i.e. after amendment to Income-tax Act, 1961 by Finance Act, 2021 introducing new provision i.e. sections 147 to 151 which came into force with effect from 1-4-2021 . Revenue relied on the Judgement of Apex Court in\u00a0 UOI v. Ashish Agarwal ( 2022) 442 ITR 1\/ 286 Taxman 183 ( SC) and submitted that the notices issued after Ist April\u00a0 2021n are liable to be treated as notice u\/s 148A of the Act\u00a0 1961 as substituted by the Finance \u00a0Act , 2021\u00a0\u00a0 and also relied on the instruction\u00a0 No . F.No. 279\/ MIsc \/M-51 \/ 2022 -ITJ\u00a0 , Ministry \u00a0of Finance\u00a0 , Department of Revenue , CBDT , ITJ\u00a0 Section dated 11 -5 -2022 ( 2022) 444 ITR 43 ( St.) .\u00a0 and judgement in Daujee Abhushan Bhandar Pvt Ltd\u00a0 v .UOI\u00a0 ( 2022) 444 ITR 41 ( All)( HC)\u00a0 \u00a0Court held that\u00a0\u00a0 as per clauses 6. 2 and 7.1\u00a0 of the Board\u2019s Circular dated\u00a0 11 th May , 2022\u00a0 , if a case does not fall under clause (b) of sub section (i)\u00a0 or section 149\u00a0 for the Assessment years 2013 -14 , 2014 -15 and 2015 -16\u00a0\u00a0 ( Where the income \u00a0escaping assessment to tax is bless than Rs 50 lakhs\u00a0 and notice has not been issue within limitation under the unamended provisions b of section \u00a0149 \u00a0, then proceedings under the unamended provisions of section 149 , then proceedings under the amended provisions cannot be initiated . Accordingly notice u\/s 148 issue on Ist April\u00a0 2021 for AY. 20014 -15 and the notice dt . 13 -1 2022 u\/s 144 and reassessment order dt 13 -1 2022 u\/s 147\u00a0 r.w.s 144B for AY. 2014 -15\u00a0 was quashed . ( AY. 2014 -15 ) ( WP No. 347 of 2022 dt . 17 -5 -2022)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 149 : Reassessment – Time limit for notice \u2013 Board\u2019s circular dated 11-5 -2022 ( 2022) 444 ITR 43( St) – Income escaping assessment to tax is less than Rs .50 lakhs \u2013 Reopening is not valid [ S.148, 148A 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-29783","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Kn","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29783","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=29783"}],"version-history":[{"count":6,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29783\/revisions"}],"predecessor-version":[{"id":32419,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29783\/revisions\/32419"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}