Following the judgment in Godrej Industries Ltd. v. Asstt. CIT, \u00a0 [2024] 160 taxmann.com \u00a0\u00a013 (Bom)(HC) it was held that the validity of a notice had to be tested with reference to the law existing on the date of its issuance and, under the Finance Act, 2021, a notice under section 148 for AY 2014-15 could not be issued on or after 1-4-2021 by virtue of the first proviso to section 149. Accordingly, the orders under section 148A(d) and notices under section 148 were quashed and set aside. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 149: Reassessment-Time limit for notice-For AY 2014-15, no notice under section 148 could be issued on or after 1-4-2021 in view of the first proviso to section 149; reopening notice issued on 31-7-2022 was therefore barred by limitation. [S. 147, 148, 148A(b), 148A(d), TOLA, 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_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-64867","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gSf","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64867","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=64867"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64867\/revisions"}],"predecessor-version":[{"id":64868,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64867\/revisions\/64868"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}