2026 (5) TMI 1457

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.... the learned A.R. Shri Deepak R. Shah appearing for the assessee has raised a legal and jurisdictional issue that the reassessment was made by the Assessing Officer by way of reopening the assessment under section 147 of the Act. He also submitted before us that pursuant to the judgment of the Hon'ble Supreme Court in the case of Rajiv Bansal, the reassessments in the above case are time barred and produced a chart being the time limit for issuance of section 148 notice for the three assessment years as follows: Ass. Y. 2015-16: Particulars Date/ Days Original Notice issued u/s. 148 on 25-06-2021 Last date to issue new notice u/s. 148 as per TOLA extension 30-06-2021 Number of days available for issuance of new notice u/s. 148 as per the judgment of the Hon'ble Supreme Court in UOI v. Rajeev Bansal 5 days Letter/notice providing information/material to the assessee as per the direction of the Hon'ble Supreme Court in UOI v. Ashish Agarwal - (2022) 444 ITR 1 (SC) 27-05-2022 Time provided to assessee to reply in the above letter / notice 20 days Last date to file reply for the assessee 17-06-2022 Date on which reply is filed by ....

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....n this regard, the Revenue was directed to get report from the Assessing Officer. In compliance, the Assessing Officer given his comments vide letter dated 08.04.2026. 4. We have heard rival submissions at length and perused the materials available on record. The validity of issuance of 148 notice during the extended time period as per Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020 (hereinafter referred as TOLA). In view of the Apex Court judgment in the case of Union of India Vs. Ashish Agrawal reported in (2022) 444 ITR 1 (SC) wherein the notice issued was to be treated as notice u/s. 148A(b) of the Act which has come into the statute with effect from 01-04-2021. 4.1. The Hon'ble Supreme Court in the later judgment in the case of Union of India Vs. Rajeev Bansal reported in (2024) 469 ITR 46 laid down the law to consider such notice as valid notice or invalid notice depending upon the surviving time left date of issuance of the notice u/s. 148 of the Act r.w.s. 3(1) of TOLA up to 30-06-2021 and the issuance of notice u/s.148 pursuant to the direction issued by the Apex Court in the case of Ashish Agarwal. 4.2. The above Supreme Court Judgments ....

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....Years Date of notice under section 148 under TOLA No of days of surviving time available till 30-06-2021 Date of providing information u/s. 148A(b) 6387/2023 2013-2014 17.06.2021 13 26.05.2022 5688/2023 2014-2015 09.06.2021 21 23.05.2022 22260/2022 2016-2017 30.06.2021 1 23.05.2022 996/2023 2017-2018 30.06.2021 1 24.05.2022   SCA NO. Due date of filing reply Date of reply:- Date of order under section 148A(d) and notice under section 148:- Last date for issuance of notice under section 148 as per surviving time: 6387/2023 09.06.2022 04.06,2022 29.07.2022 22.06.2022 5688/2023 06.06.2022 - 27.07,2022 27.06.2022 22260/2022 07.06.2022 06.07.2022 30.07.2022 14.06.2022 996/2023 11.06.2022 10.06.2022 19.07.2022 18.06.2022 68. It is apparent from the above details that impugned notice under section 148 of the Act is issued beyond the period of 'surviving time' as per the direction of Hon'ble Apex Court in case Rajeev of Bansal (supra)and therefore, such notices would be invalid notices. 69. The impugned n....

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....t information and material by the Assessing Officers to the assessees in terms of the directions issued by this court in Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.], and the period of two weeks allowed to the assessees to respond to the show-cause notices; and (h) The Assessing Officers were required to issue the reassessment notice under section 148 of the new regime within the time limit surviving under the Income-tax Act read with the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. All notices issued beyond the surviving period are time barred and liable to be set aside." 10. In view of foregoing reasons, impugned notice dated 30.08.2022 is hereby quashed and set aside and all consequential proceedings are also quashed and set aside." 5. Following the above judicial precedents, for adjudication of the legal ground relevant dates are as follows: Particulars AY. 2015- 16 AY. 2016-17 AY. 2017-18 Original notice u/s. 148 issued on 25.06.2021 28.06.2021 29.06.2021 Last date to issue notice u/s. 148 as per TOLA extension 30.06.2021 30.06.2021 30.06.2021 No. o....