The dispute concerns\u00a0reassessment proceedings\u00a0initiated through orders under\u00a0Sec. 148A(d)\u00a0and notices under\u00a0Sec. 148\u00a0with the central issue being\u00a0limitation\/time-bar\u00a0considering\u00a0Sec. 149\u00a0(as amended w.e.f. 1-4-2021).The Assessee contended that the matter is covered by the Bombay High Court ruling in\u00a0New India Assurance Co. Ltd. v. ACIT, i.e.,\u00a0notices already time-barred prior to 1-4-2021 cannot be revived\u00a0by applying\u00a0Sec. 149(1)(b)\u00a0effective from 1-4-2021, and reassessments initiated pursuant to\u00a0Union of India v. Ashish Agarwal\u00a0would also be\u00a0beyond time limit.<\/p>\n
Revenue agreed with the assessee\u2019s submission before the High Court.<\/p>\n
The Hon\u2019ble Bombay High Court quashed Sec. 148A (d) orders and Sec. 148 notices as beyond limitation. The Department despite agreement filed an SLP before the Hon\u2019ble Supreme Court (\u2018SC\u2019). The Hon\u2019ble SC dismissed the SLP on the ground of unexplained delay.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-A reassessment notice that was already time-barred before 1-4-2021 under the erstwhile law cannot be revived by applying Sec. 149(1)(b) (w.e.f. 1-4-2021)-Reassessment proceedings (including those routed through Ashish Agarwal judgement) would still be beyond limitation-the Revenue\u2019s SLP was dismissed for delay.[S. 148, 148A(b), 148A(d), 149, TOLA, 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-59611","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fvt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59611","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=59611"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59611\/revisions"}],"predecessor-version":[{"id":59612,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59611\/revisions\/59612"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}