IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH -.-

CWP-4789-2024 (O&M) Decided on :- 10.03.2025 Krishan Kedia ....Petitioner VERSUS Income Tax Officer & Ors ....Respondents CORAM : HON’BLE MR. JUSTICE ARUN PALLI HON’BLE MRS. JUSTICE SUDEEPTI SHARMA Present: Mr. Nitin Kanwar, Advocate for the petitioner.

Ms. Gauri Neo Rampal, Sr. Standing Counsel, for the respondents.

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SUDEEPTI SHARMA, J.

The challenge in the present writ petition is to notice dated 27.07.2022 under Section 148 of Income Tax Act, 1961 along with assessment order dated 21.03.2023 under Section 147 read with Sections 144 and 144B of the Income Tax Act, 1961, for the Assessment Year 2014-2015.

BRIEF FACTS

2. The case of the petitioner pertains to the Assessment Year 2014-2015. Brief facts of the present case as per pleadings in the writ petition are that notice dated 06.04.2021 under old Section 148 of the Income Tax Act, 1961 was issued to the petitioner for the Assessment Year 2014-2015, despite the fact that Section 148 of the Income Tax Act, 1961 was substituted with new Sections 148 and 148A w.e.f. 01.04.2021. Notice under Section 142(1) of Income Tax Act, 1961 dated 27.11.2021 was issued to the petitioner. Then the case was transferred from NeFAC to ReFAC on 08.12.2021. Therefore, again notice under Section 142(1) dated 22.12.2021 of the Income Tax Act, 1961 was issued to the petitioner. Thereafter, after following the procedure as laid down under the Income Tax Act, 1961, the assessment order dated 24.03.2022 under Section 147 read with Section 144B of the Income Tax Act, 1961, for the Assessment Year 2014-2015 was passed. The petitioner filed appeal against the assessment order dated 24.03.2022 before the Commissioner of Income Tax (Appeals), inter alia, on the ground that reopening of the assessment under old Section 148 of the Income Tax Act, 1961 on 06.04.2021 is barred by limitation. On 27.05.2022, notice under Section 148A(b) in consequence to judgment passed on 04.05.2022 by the Hon’ble Supreme Court in Union of India and Others Vs. Ashish Aggarwal [2022] SCC ONLINE SC 543 was issued The petitioner filed reply to the same and after considering the reply and after proceeding under Section 148A(d), order dated 27.07.2022 under Section 148A(d) in consequence to judgment dated 04.05.2022 passed by Hon’ble Supreme Court in Union of India and Others Vs. Ashish Aggarwal [2022] SCC ONLINE SC 543 was passed. Pursuant thereto notice dated 27.07.2022 under Section 148 of the Income Tax Act, 1961 was issued to the petitioner. Thereafter, after following the procedure as laid down under the Income Tax Act, 1961 and after considering the reply filed by the petitioner, assessment order dated

21.03.2023 for the Assessment Year 2014-15 was passed.

3. Hence the present petition challenging the notice dated 27.07.2022 under Section 148 of Income Tax Act, 1961 along with assessment order dated 21.03.2023 under Section 147 read with Sections 144 and 144B of the Income Tax Act, 1961, for the Assessment Year 2014-2015 on the ground that the same are barred by limitation.

SUBMISSIONS

4. Learned counsel for the petitioner contends:-

a) That since notice dated 27.07.2022 issued under Section 148 of the Income Tax Act, 1961 was barred by limitation in view of the coming into force of Finance Act, 2021, therefore, the assessment order under Section 147 read with Sections 144 and 144B of the Income Tax Act, 1961 dated 21.03.2023 is also bad in the eyes of law.

b) Further, that controversy in the present writ petition is already settled by the Hon’ble Supreme Court in the case of Union of India Vs. Rajeev Bansal [2024] 469 ITR 46 (SC) on 03.10.2024. Therefore, the present writ petition be allowed in terms of the settled proposition of law in the case of Union of India Vs. Rajeev Bansal (Supra)

5. Learned counsel for the respondents could not rebut the legal proposition of law as settled by Hon’ble Supreme Court in Union of India Vs.

Rajeev Bansal (Supra), by which the case of the pet