Assessee filed its return of income for relevant assessment year-Subsequently, a notice dated 30-6-2021 was issued under section 148 under provisions of TOLA.Pursuant to decision of Supreme Court in case of UOI \u00a0v. Ashish Agarwal\u00a0[2022] 286\u00a0Taxman\u00a0183\/444 ITR 1(SC) \u00a0Assessing Officer issued notice dated 24-5-2022 under section 148A(b). \u00a0Thereafter, an order dated 15-7-2022 was passed under section 148A(d) alleging that income to certain extent had escaped assessment. \u00a0Pursuant to said order, a reassessment notice under section 148 was issued on 15-7-2022. On writ\u00a0 challenging the \u00a0order and notice, the Court held that\u00a0 \u00a0as per decision of Supreme Court in UOI \u00a0v. Rajeev Bansal\u00a0[2024]301\u00a0Taxman\u00a0238\/469 ITR 46 (SC) \u00a0notice dated 30-6-2021 would relate to notice dated 15-7-2022. Since only one day was available for issuance of notice, after giving opportunity of filing reply to assessee, last date to issue notice as per judgment of Supreme Court in Rajeev Bansal (supra) would be 12-6-2022, whereas notice under section 148 was issued on 15-7-2022-therefore, notice dated 30-6-2021 was an invalid notice hence notice dated 15-7-2022 as well as notice dated 30-6-2021was quashed and set aside. \u00a0(AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 149 : Reassessment-Time limit for notice-Since only one day was available for issuance of notice, after giving opportunity of filing reply to assessee-Last date to issue notice as per judgment of Supreme Court in Rajeev Bansal would be 12-6-2022-Notice under section 148 was issued on 15-7-2022-Notice dated 30-6-2021 was an invalid notice Notice dated 15-7-2022 as well as notice dated 30-6-2021was quashed and set aside. [S. 148,148A(b), 148A(d), Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA). S.3, 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-59318","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fqK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59318","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=59318"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59318\/revisions"}],"predecessor-version":[{"id":59319,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59318\/revisions\/59319"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}