TaxTMI 
TaxTMI 
2024 (10) TMI 1623
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....r>And CWP Nos. 1795, 1918, 1922, 2112, 1130, 1506, 1508, 1525, 1627, 1630, 1631, 1643, 1734, 1862, 2206, 2254, 2538, 2692, 2932, 2039, 12412, 9152, 577, 6729-2023 (O&M), 9071-2023 (O&M), 8369, 4366, 4580, 4629, 4655, 4704, 4732, 5229, 5469, 5669, 5751, 5818, 5892, 5962, 6102, 6559, 6634, 9475, 9552, 9669, 10047, 10052, 10418, 10511, 10535, 10564, 10566, 10570, 10580, 10818, 10951, 10959, 12292, 12554, 11442, 2743, 3702, 3468, 3480, 3493, 3496, 3514, 3526, 3530, 3546, 4430, 3805, 3860, 3960, 4488, 4414, 4423, 4424, 4448, 3048, 3068, 3084, 3089, 3091, 3446, 4060, 4138, 4155 of 2023 And CWP Nos. 30089 of 2022, 7687 of 2024. Winsome Textile Industries Limited, Rajan Kakkar, Navjot Singh Walia, Kamlesh, Bss Real Estate Private Limited, Sangit....
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....ugh Its Patner Sh. Lalit Singla, Hisar Exim Pvt Ltd, Shruti Bhagat, Jitender Singh Mor, Amit Jain, Naresh Arora, M/S Amit Rice And General Mills, Bimla Devi, M/S Kbr Agro Foods, Sel Manufacturing Company Ltd., Hardicon Limited, Ajay Bindal Huf, Saroj Jain, Devinder Singh And Sons (Huf), R D Vohra Huf, Parveen Jain, Sanjay Jain, Pawan Kumar Goyal Huf, Amrik Singh And Sons (Huf), Pawan Kumar Goyal, Anu Aggarwal, Savneet Kaur, Sandeep Kumar Goyal, Vanita Goyal, Ads Associated Group, Raksha Goyal, Brijesh Singh, Ayush Chadha, Legal Heir Bimla Rani (Deceased), Ratesh Kumar, Suman Kandoi, Suresh Kumar, Rajesh Kumar Jindal, M/S Janta Rice Mill, M/S Mansa Devi Rice Mills, M/S Haryana Rice Mills, M/S Hrm Overseas, M/S Mansa Devi Rice Mills Through I....
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.... For the Respondent-Revenue : Ms. Urvashi Dhugga, Sr. Standing Counsel, Mr. Varun Issar, Sr. Standing Counsel, Mr. Saurabh Kapoor, Sr. Standing Counsel with Ms. Pridhi Sandhu, Jr. Standing Counsel, Mr. Ranvijay Singh, Sr. Standing Counsel, Mr. Yogesh Putney, Sr. Standing Counsel with Mr. Vaibhav Gupta, Standing Counsel, Ms. Gauri Neo Rampal Opal, Sr. Standing Counsel (through V.C.) ORDER SANJEEV PRAKASH SHARMA, J. (Oral) 1. These bunch of writ petitions were tagged together solely on account of one common issue involved with regard to the validity of notices issued under Section 148 of the Income Tax Act, 1961 (for brevity, 'the Act'), and the effect of TOLA and Finance Act, 2021, bringing the new faceless regime. 2. The Supr....
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....segments of this judgment, the period from the date of the issuance of the deemed notices till the supply of relevant information and material by the assessing officers to the assesses in terms of the directions issued by this Court in Ashish Agarwal (supra) has to be excluded from the computation of the period of limitation. Moreover, the period of two weeks granted to the assesses to reply to the show cause notices must also be excluded in terms of the third proviso to Section 149. 111. The clock started ticking for the Revenue only after it received the response of the assesses to the show causes notices. After the receipt of the reply, the assessing officer had to perform the following responsibilities: (i) consider the reply o....
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....r 1 April 2021, the Income Tax Act has to be read along with the substituted provisions; b. TOLA will continue to apply to the Income Tax Act after 1 April 2021 if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20 March 2020 and 31 March 2021; c. Section 3(1) of TOLA overrides Section 149 of the Income Tax Act only to the extent of relaxing the time limit for issuance of a reassessment notice under Section 148; d. TOLA will extend the time limit for the grant of sanction by the authority specified under Section 151. The test to determine whether TOLA will apply to Section 151 of the new regime is this: if the time limit of three years from the....
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....cordingly allowed. The appeals filed by the assesses will be governed by reasons discussed in this judgment." 3. In the present bunch of the petitions, counsels for the petitioners have submitted that in terms of the judgment passed by the Supreme Court, in some of the cases mentioned, notices issued to them under Section 148 of the Act, have become time barred and the proceedings required to be dropped. In some of the other cases, the proceedings would continue and the authorities can proceed, while in some other cases, the valuation being less than Rs. 50, 00, 000/- (Rs. Fifty Lakhs), the proceedings required to be dropped as per the stand taken by the revenue before the Supreme Court. 4. The counsels appearing for the revenue ....