TaxTMI 
TaxTMI 
2025 (9) TMI 1766
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....he Petitioners : By Sri. Sandeep Huilgol Advocate; Sri. Bhardwaj Sheshadri, Advocate; Sri. Sandeepani Neglur, Advocate; Smt. Riddhi Moghe, Advocate For the Respondents : By Sri. Y.V. Ravi Raj, Advocate ORAL ORDER The petitioner is before this court seeking for the following prayer: (i) Quashing the impugned order under Section 148A(d) of the Income-Tax Act, 1961 dated 10.04.2023 bearing DIN ITBA/AST/F/148A/2023-24/2051990641(1) passed by the First respondent for the assessment year 2016-17 (Annexure-A-1); (ii) Staying the operation of the notice under Section 148 of the Income-Tax Act, 1961 dated 10.04.2023 bearing DIN ITBA/AST/S/148_1/2023-24/1051990774(1) issued by the first respondent for the assessment year 20....
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....148A(d) of the Act alleging inter alia that the trust had incurred legal and professional fees close to Rs. 69,47,060/- without receiving any services in return. It is then the petitioner appeared and furnished all the documents, personal hearing was also afforded but the proceedings continued. It is then the petitioner is before this court on the score that the notice issued under Section 148A(d) is on the face of it without jurisdiction as it is beyond limitation prescribed under law. 5. The learned counsel would submit that the issue in the lis stands answered by what this court has held in terms of its order dated 21.08.2025 passed in W.P.NO. 17389/2024 (TARISH INVESTMENT AND TRADING COMPANY PVT. LTD., VS. UNION OF INDIA AND OTHERS).....
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....ciation allowance or any other allowance or deduction for the Assessment Year 2017-18 and I, hereby, require you to furnish, within a period of three months from the end of month in which this notice is issued, a return in the prescribed form for the Assessment Year 2017-18. Note:- Please note that any return of income, required to be furnished by you under this section and furnished beyond the period allowed shall not be deemed to be a return under section 139 of the Act. (Proviso 3 to Section 148) NITHAN RAJ T.N. CIRCLE 7(1)(1), BANGALORE" 3. The notice itself indicates that it is issued for the Assessment Year 2017-18 and is admittedly issued on 7.5.2024. Learned counsel appearing for the petitioner submits that t....
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....fty lakhs or more. The proviso limits the retrospective operation of section 149(1)(b) to protect the interests of the assesses. 53. The position of law which can be derived based on the above discussion may be summarized thus: (i) Section 149(1) of the new regime is not prospective. It also applies to past assessment years; (ii) The time limit of four years is now reduced to three years for all situations. The Revenue can issue notices under Section 148 of the new regime only if three years or less have elapsed from the end of the relevant assessment year; (iii) the proviso to Section 149(1)(b) of the new regime stipulates that the Revenue can issue reassessment notices for past assessment years only if the time limit survives acc....
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.... 2. Learned counsel appearing for the respondents accepts notice. 3. The petitioner has filed the present petition, inter alia, impugning an order dated 01.05.2024 (hereafter the impugned order) issued under Section 148A(d) of the Income Tax Act, 1961 (hereafter the Act) for the assessment year (AY) 2017-18 as well as the notice dated 01.05.2024 issued under Section 148 of the Act. 4. The petitioner contends that the said notice was issued beyond the period of limitation as prescribed in first proviso to Section 149(1) of the Act. 5. The learned counsel appearing for the petitioner submits that the issue stands covered by the decision of this Court in Manju Somani v. Income Tax Officer [2024] 165 taxmann.com 675/....
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.... regime applies prospectively. For example, for the assessment year 2012-2013, the ten year period would have expired on 31 March 2023, while the six year period expired on 31 March 2019. Without the proviso to Section 149(1)(b) of the new regime, the Revenue could have had the power to reopen assessments for the year 2012-2013 if the escaped assessment amounted to Rupees fifty lakhs or more. The proviso limits the retrospective operation of Section 149(1)(b) to protect the interests of the assesses." 7. In view of the above, the present petition is allowed. The impugned order dated 01.05.2024 as well as the notice issued under Section 148 in respect of the AY 2017-18 are set aside. 8. Pending applications also stand dispo....