JUDGMENT :

N.V. ANJARIA, J.

1. In the facts and circumstances of the case, having regard to the issue involved and with consent and request of learned advocates for the parties, this Special Civil Application was taken up for final consideration today.

2. Rule returnable forthwith. Learned advocate Ms. Kalpana Raval for the respondent Revenue waives service of Rule.

2.1 Heard learned advocate Mr. Hiren Trivedi for the petitioner and learned advocate for the respondent.

3. In the present petition filed under Article 226 of the Constitution, the petitioner has called in question the notice dated 26.07.2022 issued by respondent no. 2-assessing officer under Section 148 of the Income Tax Act, 1961 seeking to reopen the assessment in respect of assessment year 2013-14. Also challenged is the order dated 27.05.2022 passed under Section 148A(d) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”).

3.1 While in the impugned order under section 148A(d) of the Act mentioned are the factual details and the reasons on the basis of which the assessing officer has found that the case is fit to be reopened for the assessment in respect of the year under consideration, it is inter alia stated that the notice under section 148 of the Act was originally issued on 24.06.2021 for the assessment year 2013-14. The said notice was treated as show-cause notice under section 148A(b) of the Act in light of the decision of the Supreme Court in Union of India vs. Ashish Agarwal, (2023) 1 SCC 617 : (2022) 444 ITR 1 (SC) and that thereupon, the order under section 148A(d) was passed.

4. At the outset, learned senior advocate for the petitioner submitted that the notice issued under section 148 of the Act and the consequential order under section 148A(d) of the Act issued by the department for assessment year 2014-15 is barred on the ground of limitation, the notice having been issued after passage of six years from the end of the relevant assessment year.

4.1 It was submitted that in view of the decision of the Division Bench of this Court in Keenara Industries Pvt. Ltd. vs. The Income Tax Officer being Special Civil Application No. 17321 of 2021 and allied petitions, decided on 07.02.2023, the question of legality of the notice issued in respect of Assessment Year 2013-14 and Assessment Year 2014-15 is covered and the impugned notice is without jurisdiction as it is beyond the time limit prescribed.

5. In order to properly understand the controversy and the applicable provisions in particular, prior to coming into force of Finance Act, 2021 called old regime as well as the provisions introduced in the Finance Act, 2021 described as new regime, the development of the law emanating from Keenara Industries Pvt. Ltd. (supra) in that regard may be revisited with, by noticing the aspects considered and decided in the said decision:

5.1 Section 147 of the Act empowers the assessing officer to reassess the income of the assessee subject to the provisions of Sections 148 to 151 of the Act in case any income chargeable to tax has escaped assessment.

5.1.1 Prior to the applicability of Finance Act, 2021 with effect from 01.04.2021, for the provisions of section 149 then existed, notice under section 148 could be issued for the relevant assessment year within four/six years from the end of the relevant assessment year concerned. Section 149 as operated in the old regime prior to the Finance Act, 2021, reads as under:

“149. Time limit for notice:

(1) No notice under section 148 shall be issued” for the relevant assessment year:

(a) if four years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b) or clause (c).

(b) if four years, but not more than six years, have elapsed from the end of the relevant assessment year unless the income chargeable to tax which has escaped assessment amounts to or is likely to amount to one lakh rupees or more for that year.

(c) if four years, but not more than sixteen years, have elapsed from th