Held that since the period of four years from the end of the relevant asst. yr. 2015-16 expired on 31st March, 2020, which fell within the period from 20th March, 2020 to 31st March, 2021, the original notice under s. 148 issued on 16th June, 2021, which was deemed to be a notice under s. 148A(b), is covered under the extended time-limit till 30th June, 2021 provided under the TOLA.; however, Revenue had only fifteen days i.e., between 16th June, 2021, and 30th June, 2021, to issue notice under s. 148 i.e., till 25th June, 2022, after receipt of the response from the assessee to the show-cause notice under s. 148A(b) on 10th June, 2022 and, therefore, the notice under s. 148, issued on 29th July, 2022, is barred by limitation specified under S. 149 and is void ab initio. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 149: Reassessment-Time limit for notice-Time-limit of four years from the end of the relevant assessment year, i.e., 2015-16, expired on 31st March, 2020, and the period of six years from the end of the relevant assessment year expired on 31st March, 2022-Notice under S. 148 was issued on 29th July, 2022, i.e., 34 days after the balance time period-Barred by limitation-Reassessment proceedings and assessment order passed are quashed.[S. 147, 148, 148A(b)] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61565","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g0Z","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61565","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=61565"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61565\/revisions"}],"predecessor-version":[{"id":61566,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61565\/revisions\/61566"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}