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2024 (4) TMI 802 - ITAT CHENNAIReopening of assessment - scope of new regime of reopening of assessment after introduction of provisions of section 148/148A - notices issued for assessment years 2013-14 to 2015-16 - Limitation provided in section 149 - where the escaped income is less than Rs. 50 lakhs - HELD THAT:- We noted that admittedly the notice issued u/s. 148 of the Act either on 19.03.2021 or 13.04.2021, whether these are issued on 19.03.2021 i.e., extended, that falls in extended period or fresh notice issued on 13.04.2021 is of no relevance for adjudication on this issue. In either of the notice, the assessment was framed and Revenue’s contention is that the notices u/s. 148 of the Act is valid under the new regime of reopening of assessment after introduction of provisions of section 148/148A of the Act. We have gone through the assessee’s paper-book and examined the facts and noted that admittedly escaped income is Rs. 29,20,000/- only. Now this issue has been clarified by CBDT explaining the judgment of Hon’ble Supreme Court in the case of Ashish Agarwal [2022 (5) TMI 240 - SUPREME COURT] implementation of by lower authorities and accepted the position that notices cannot be issued for assessment years 2013-14 to 2015-16, wherever income escaping assessment in that year, amounts to or is likely to amount to less than fifty lakh rupees. In the present case before us, the amount is Rs. 29,20,000/-. This issue is squarely covered by the decision of Hon’ble Supreme Court in Ashish Agarwal, supra, in favour of assessee and subsequently, issued instruction by CBDT and hence, we quash the notice issued u/s. 148 of the Act dated 13.04.2021 or 19.03.2021 as without jurisdiction.
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