Reassessment Notice Invalidated for Exceeding Limitation Period and Non-Compliance with Amended Procedures.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Reassessment action initiated based on Section 148 notice and subsequent Section 148A(b) notice violated the First Proviso to Section 149(1) and was barred by the limitation period. The reassessment action commenced post April 1, 2021, was subject to the amended provisions. The Supreme Court in Ashish Agarwal held that notices issued under unamended provisions should be treated as notices u/s 148A(b), subject to compliance with procedural requirements and defenses available under amended provisions, including Section 149. However, the terminal date of March 31, 2022, for commencing reassessment had passed when the Section 148A(b) notice was issued on May 27, 2022, contravening the First Proviso to Section 149(1). Ashish Agarwal cannot be co.........