Reopening Assessments under the new procedural regime is limited to pending reassessments and cannot disturb completed assessments.

The note addresses whether a fresh notice under the Finance Act, 2021 regime (148A(b)) can be issued after completion of reassessment for the same year; it applies the principle that the new procedural safeguards permit issuance only where assessment or reassessment remains pending and do not permit reopening an assessment already finally concluded. The reasoning emphasises that Section 148A procedural prerequisites govern pending reassessments and require disclosure of material to the taxpayer, and therefore a post reassessment notice under the new regime is not maintainable; the prior reassessment outcome prevails.

---

---

Issues: Whether a fresh notice under Section 148A(b) of the Income-tax Act, 1961 under the new regime (Finance Act, 2021) could be validly issued in respect of Assessment Year 2014-2015 after completion of re-assessment proceedings culminating in an assessment order dated 28.03.2022 under Section 147 read with Section 144 of the Income-tax Act, 1961.

Analysis: The impugned Section 148A(b) notice was issued after the Petitioner's return for AY 2014-2015 had been the subject matter of an assessment order dated 28.03.2022. The new regime introduced by the Finance Act, 2021 and the decisions of the Supreme Court in Ashish Agarwal and Rajeev Bansal permit issuance of notices under Section 148A(b) where assessment proceedings have not been completed; they do not authorize reopening where a valid assessment or reassessment order has already been passed. The Court relied on analogous decisions of this Court which held that notices under Section 148A(b) are permissible only insofar as the assessment had not been completed and that completed assessments cannot be reopened merely by issuing a fresh notice under the new regime. Procedural prerequisites under Section 148A are intended to govern pending reassessments and to require providing material relied upon to the assessee; they do not permit recall of an assessment already finally concluded under the earlier regime.

Conclusion: The Section 148A(b) notice dated 25.05.2022 issued under the new regime for AY 2014-2015 is not maintainable in view of the prior completion of reassessment by order dated 28.03.2022. The writ petition is allowed in favour of the assessee and the impugned notice is set aside.

---