On a writ petition challenging the order passed under section\u00a0148A(d)\u00a0of the\u00a0Income-tax Act, 1961\u00a0and the notice dated July 30, 2022 issued under section\u00a0148\u00a0for the assessment year 2013-14 on the ground that it was barred by limitation, and the validity of Instruction No. 1 of 2022 dated May 11, 2022 ([2022] 444 ITR (St.) 43) issued by the Central Board of Direct Taxes, the High Court held that since the time for issuance of reassessment notice for the assessment year 2013-14 stood extended until June 30, 2021 by section\u00a03\u00a0of the\u00a0Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020\u00a0and the income alleged to have escaped assessment was beyond Rs. 50 lakhs, the first proviso to section\u00a0149\u00a0(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\u00a0148\u00a0was within limitation. SLP of assessee is dismissed.(AY.2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
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-SLP dismissed. [S. 147, 148, 148A(b), 148A(d),149, Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020, S. 3. Art. 136] <\/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-39161","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-abD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39161","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=39161"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39161\/revisions"}],"predecessor-version":[{"id":39162,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39161\/revisions\/39162"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}