Reassessment barred by limitation where Section 148 notice was issued after the reopening period had already expired.

A reassessment notice under Section 148 of the Income-tax Act and the supporting order under Section 148A(d) were held to be barred by limitation because they were issued after the expiry of six years from the end of the relevant assessment year. The Court applied the governing limitation under Section 149(1)(b) and found that the power to reopen had already lapsed when the notice was issued. The subsequent reassessment regime could not revive a time-barred jurisdiction to reopen the assessment, so both the notice and the order were set aside in favour of the assessee.

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Issues: Whether the notice issued under Section 148 of the Income-tax Act, 1961 for assessment year 2016-17, along with the order under Section 148A(d), was barred by limitation.

Analysis: The notice was issued after the expiry of six years from the end of the relevant assessment year. The governing limitation under Section 149(1)(b) had already expired when the notice was issued, and the subsequent regime could not revive the barred power to reopen the assessment.

Conclusion: The notice under Section 148 and the order under Section 148A(d) were barred by limitation and were set aside in favour of the assessee.

Ratio Decidendi: A reassessment notice under the new regime cannot be sustained where, on the date of issuance, the time limit for reopening under the applicable limitation provision had already expired.

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