2025 (5) TMI 369

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....impugning a notice dated 23.07.2022 issued under Section 148 of the Income Tax Act, 1961 [the Act] and further proceedings pursuant to the said notice in respect of Assessment Year [AY] 2015-16. 2. The petitioner filed its return of income for the AY 2015-16 on 23.09.2015, declaring total income of Rs. 13,63,47,964/-. 3. The Assessing Officer [AO] issued a notice dated 05.04.2021 under Section 148 of the Act seeking to reopen the assessment for AY 2015-16. Although the said notice was issued after 31.03.2021, the procedure as prescribed under Section 148A of the Act was not followed, as the notice was premised on the provisions relating to reassessment as were in force prior to 31.03.2021. 4. Thereafter, by a communication dated 30.05.20....

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....the application of TOLA. Section 3 of TOLA applies to the entire Income-tax Act, including Sections 149 and 151 of the new regime. Once the first proviso to Section 149 (1) (b) is read with TOLA, then all the notices issued between 1 April 2021 and 30 June 2021 pertaining to assessment years 2013-14, 2014-15, 2015-16, 2016-17, and 2017-18 will be within the period of limitation as explained in the tabulation below: Assessment year Within 3 Years Expiry of Limitation read with TOLA for (2) Within six Years Expiry of Limitation read with TOLA for (4) (1) (2) (3) (4) (5) 2013-2014 31-3-2017 TOLA not applicable 31-3-2020 30-6-2021 2014-2015 31-3-2018 TOLA not applicable 31-3-2021 30-6-2021 2015-2016 31-3-2019 TOLA not app....