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IN THE HIGH COURT OF JUDICATURE AT MADRAS
C.SARAVANAN
Ravi Constructions – Appellant
Versus
Assistant Commissioner of Income Tax Central Circle -3 – Respondent
ORDER :
C. Saravanan, J.
In this Writ Petition, the petitioner has challenged the impugned order dated 28.04.2022 passed under Section 148A(d) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’) and the consequential Notice dated 28.04.2022 issued under Section 148 of the Act under the new regime as in force with effect from 01.04.2021 for the Assessment Year 2015-2016.
2. The petitioner had filed its Return of Income on30.09.2015 for the Assessment Year 2015-2016 admitting a total income of Rs.22,83,270/-. The said Return of Income was processed under Section 143(1) of the Act on 01.12.2015.
3. The Petitioner was thereafter issued with a Notice dated 31.03.2022 under Section 148A(b) of the Act under the new regime as in force with effect from 01.04.2021. The said notice ultimately culminated in the impugned Section 148A(d) order dated 28.04.2022 and the consequential Section 148 Notice dated 28.04.2022
4. Meanwhile, the Hon’ble Supreme Court delivered its verdict in Union of India Vs. Ashish Agarwal., (2024) SCC Online SC 2693 on 04.05.2022, which was later further clarified by the Hon’ble Supreme Court in Union of India Vs. Rajeev Bansal, 2024 SCC Online SC 2993. I shal
Reassessment notice under Section 148 issued after Section 148A(b) on last day of old regime limitation held valid as response time excluded under Section 149 proviso; book entries qualify as 'assets....
The notices under the amended Income Tax Act are valid even if previously invalid notices existed, provided conditions of procedural compliance and limitation exclusions are met.
Reassessment notice u/s.148 for AY 2017-18 issued after 3 years with escaped income below Rs.50 lakhs held barred by limitation under first proviso to section 149(1)(b), quashing proceedings.
Reassessment notice for AY 2013-14 upheld as timely under new regime, with exclusions for TOLA, Covid periods, and Section 148A reply time; Director General's approval valid under Section 151(ii).
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