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of <h1>Reopening notices for AY2015-16 issued on or after 1 April 2021 must be dropped under TOLA/2020; 25.6.2021 notice quashed</h1> <h3>Deepak Steel And Power Limited Versus Central Board Of Direct Taxes & Ors.</h3> SC held that, following Revenue's concession, reopening notices for assessment year 2015-16 issued on or after 1 Apr 2021 must be dropped as they cannot ... Reopening of assessment u/s 147 - notice issued to the Petitioner-Assessees u/s 148-A(1)(b) - scope of extended time limit by TOLA, 2021 - Revenue relied upon Rajeev Bansal [2024 (10) TMI 264 - SUPREME COURT (LB)] wherein Revenue concedes that for the assessment year 2015-2016, all notices issued on or after April 1, 2021 will have to be dropped as they will not fall for completion during the period prescribed under the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 - HELD THAT:- As the revenue made a concession in the aforesaid decision that is for the assessment year 2015-2016, all notices issued on or after 1st April, 2021 will have to be dropped as they would not fall for completion during the period prescribed under the taxation and other laws (Relaxation and Amendment of certain Provisions Act, 2020). Nothing further is required to be adjudicated in this matter as the notices so far as the present litigation is concerned is dated 25.6.2021. In such circumstances referred to above the original writ petition [2023 (2) TMI 1400 - ORISSA HIGH COURT] respectively filed before the High Court of Orissa at Cuttack stands allowed. The impugned notice therein stands quashed and set aside. The relief in terms of prayer (a) is granted. The appeals stand disposed of in the above terms. The Supreme Court of India granted leave and heard appeals arising from the High Court of Orissa's dismissal of writ petitions challenging income tax notices dated 25.6.2021. The Court relied on the three-judge bench decision in Union of India v. Rajeev Bansal (2024 SCC OnLine SC 2693), particularly paragraph 19(f), wherein 'The Revenue concedes that for the assessment year 2015-2016, all notices issued on or after April 1, 2021 will have to be dropped as they will not fall for completion during the period prescribed under the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020.' Given this concession, the Supreme Court held that the impugned notices issued after April 1, 2021, including the notice dated 25.6.2021, must be quashed. Consequently, the Court allowed the writ petitions, set aside the impugned notices, granted relief as prayed, and disposed of the appeals accordingly.
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