For the Asstt.Year: 2014-15, the assessee filed the return of income, which was subjected to the reassessment proceedings through notice u\/s 148 dtd. 31-03-2021.\u00a0 After considering the explanations and submissions with the necessary documents and the statement of accounts, the reassessment order u\/s 147 was passed on 26-03-2022 accepting the submissions made by the assessee. After conclusion of the reassessment proceedings, the AO issued notice u\/s 148A(b) on 31-05-2022 in accordance with the judgment of the Supreme Court in Union of India Vs. Ashish Agarwal (2022) 138 taxmann.com 64 \/ 286 Taxman 183 \/ 444 ITR 1 (SC) followed by the order u\/s 148A(d) and the notice u\/s 148 on 20-07-2022. On writ, the Hon\u2019ble Court held that the second round of reassessment proceeding reinitiated on the same set of reasons vide Show Cause Notice dtd. 31-05-2022 u\/s 148A(b) of the Act cannot be sustained and accordingly, the order dtd. 20-07-2022 u\/s 148A(d) as well consequential notice u\/s 148 of the even date shall stand quashed. The Writ Petition is accordingly allowed. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Reassessment was concluded on 26-3-2002-Reassessment proceedings on same set of facts is not sustainable.[S. 147, 148, 148A(b) 148A(d), 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-50865","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dep","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50865","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=50865"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50865\/revisions"}],"predecessor-version":[{"id":50866,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50865\/revisions\/50866"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}