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2022 (5) TMI 1550 - HC - Income TaxValidity of Reopening of assessment - order passed u/s 148A(d) as it stood amended - Period of limitation to issue notice issued u/s 148A(b) - validity of notices issued by the Income Tax Department (Department) u/s 148 in light of the amendment by the Finance Act 2021, which introduced the new amended provisions i.e., Sections 147 to 151 with effect from 1st April, 2021 - HELD THAT:- Supreme Court of India in Union of India & others v. Ashish Agarwal [2022 (5) TMI 240 - SUPREME COURT] partly allowed the appeals of the Union of India and made a distinction between notices issued by the Department on or after 1st April, 2021 and those that have been issued prior thereto. In the present case, the notice under Section 148 of the Act pertaining to the Assessment Year (AY) 2015-16 was issued on 30th March 2021, i.e., prior to 1st April 2021. Also, it was beyond the period of six years after the expiry of the AY in question. Consequently, both in light of the Judgment of the Supreme Court in Union of India & others v. Ashish Agarwal [2022 (5) TMI 240 - SUPREME COURT] and the Order of this Court [2022 (1) TMI 1291 - ORISSA HIGH COURT] dated 24th January 2022 in W.P.(C) No.20919 of 2021 and batch of writ petitions in M/s. Ambika Iron and Steel Pvt. Ltd. and others v. Principal Commissioner of Income Tax and others the impugned notice is hereby quashed and all the subsequent orders and proceedings are also hereby quashed.
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