TaxTMI 
TaxTMI 
2025 (6) TMI 166
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.... 2. The petition is taken up for hearing today. 3. The hearing scheduled on 16.09.2025 is cancelled. 4. The application stands disposed of. W.P.(C) 5893/2023 5. The petitioner has filed the present petition, inter alia, impugning an order dated 28.07.2022 [impugned order] passed under Section 148A (d) of the Income Tax Act, 1961 [the Act] along with the notice dated 28.07.2022 [impugned notice] issued under Section 148 of the Act and further proceedings in respect of assessment year [AY] 2015-16. 6. The petitioner is a company and had filed its return of income for the AY 2015-16 on 30.09.2015, declaring a loss of Rs. 7,28,478/-. 7. The Assessing Officer [AO] issued a notice dated 28.06.2021 under Section 148 of the Act seeking to r....
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....ragraph 19 (e) and 19 (f) from the decision of the Supreme Court in Union of India and Ors. v. Rajeev Bansal (supra), which sets out the concession as made on behalf of the Revenue: "e. The Finance Act 2021 substituted the old regime for re-assessment with a new regime. The first proviso to Section 149 does not expressly bar 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: ....
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....ess invited the attention of this Court to a three judge bench decision of this Court in Union of India and Ors. v. Rajeev Bansal, reported in 2024 SCC OnLine SC 2693, more particularly, paragraph 19(f) which reads thus:- "19. (f) The Revenue concedes that for the assessment year 2015-2016, all notices issued on or after April 1, 2021 will have to be dropped as they will not fall for completion during the period prescribed under the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020." 5. As the revenue made a concession in the aforesaid decision that is for the assessment year 2015-2016, all notices issued on or after 1st April, 2021 will have to be dropped as they would not fall for completion during t....