https://www.taxtmi.com/caselaws?id=782658 HC held that for AY 2016-17, where alleged escaped income was below Rs.50 lakh, the reassessment notice under s.148 (old regime) had to be issued by 30.06.2021, as extended by TOLA. Applying the SC decisions in Ashish Agarwal and Rajeev Bansal, the old-regime notice dated 30.06.2021 was deemed stayed, leaving no further time to issue a valid new-regime s.148 notice, save the seven days under the fourth proviso to s.149. As the new s.148 notice, required to be issued by 10.06.2022, was actually issued on 28.07.2022, HC held it barred by limitation and quashed the reassessment proceedings. en-us Tue, 25 Nov 2025 00:00:00 +0530 Tue, 02 Dec 2025 08:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782658 HC held that for AY 2016-17, where alleged escaped income was below Rs.50 lakh, the reassessment notice under s.148 (old regime) had to be issued by 30.06.2021, as extended by TOLA. Applying the SC decisions in Ashish Agarwal and Rajeev Bansal, the old-regime notice dated 30.06.2021 was deemed stayed, leaving no further time to issue a valid new-regime s.148 notice, save the seven days under the fourth proviso to s.149. As the new s.148 notice, required to be issued by 10.06.2022, was actually issued on 28.07.2022, HC held it barred by limitation and quashed the reassessment proceedings. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782658