Dismissing the petition the Court held that since the Information available with the Assessing Officer of\u00a0 the total escaped income was Rs.1,84,45,194, which was more than Rs. 50 Lakhs.\u00a0 \u00a0That the notice dated April 5, 2023 issued under Section\u00a0148\u00a0was not in violation of\u00a0 the Notification of\u00a0 the Ministry Of Finance Dated March 29, 2023. Since the initial notice issued under Section\u00a0148A(b)\u00a0had already been issued to the assessee on February 28, 2023. Therefore, the process of\u00a0 issuing notice under Section\u00a0148\u00a0had begun prior to the issuance of the Notification. Hence, the notice under Section\u00a0148\u00a0had not been issued in non-compliance of\u00a0 the Notification. The Assessee would have the opportunity to represent before the Assessing Officer in response to the notice issued under Section\u00a0148. Therefore, the order under Section\u00a0148A(d)\u00a0and the consequent notice under Section\u00a0148\u00a0 is valid. \u00a0(AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice after three years-Limitation-Income exceeding Rs 50 lakhs-Process for issuance of notice started before date of notification-Order and consequent notice is valid. [S. 147, 148, 148A(b) 148A(d), 149,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-49582","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cTI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49582","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=49582"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49582\/revisions"}],"predecessor-version":[{"id":49583,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49582\/revisions\/49583"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}