2023 (10) TMI 1353

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....HRI JUSTICE SHEEL NAGU AND HON'BLE SHRI JUSTICE AVANINDRA KUMAR SINGH) FOR THE PETITIONER : SHRI SAPAN USRETHE - ADVOCATE FOR THE RESPONDENTS : SHRI SIDDHARTH SHARMA - ADVOCATE ORDER This petition u/Art. 226 of the Constitution assails the order passed u/S. 148A(d) dated 19.07.2022 (Annexure-P/3), the consequential notice issued u/S. 148 dated 22.07.2023 (Annexure-P/4) and the asse....

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....48 shall be issued for the relevant assessment year,- (a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if three years, but not more than ten years, have elapsed from the end of the relevant assessment year unless the Assessing Officer has in his possession books of account or other documents or evidence whic....

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.... in relation to a search initiated under section -132 or books of account, other documents or any assets requisitioned under section -132A, on or before the 31st day of March, 2021: Provided also that for the purposes of computing the period of limitation as per this section, the time or extended time allowed to the assessee, as per showcause notice issued under clause (b) of section -148....

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....ond proviso to Section 149(1) of IT Act reveals that in cases where notice u/S.153A or Section 153C read with Section 153A is required to be issued in relation to a search conducted u/S.132 or books of account and other documents or any asset are requisitioned u/S.132A on or before 31.03.2021, the time frame prescribed by Section 149(1) of IT Act is inapplicable. 5.2 Thus, it is obvious that in....